Physician Wealth Advisors Inc. Purchases Shares of 126 Parker-Hannifin Co. (NYSE:PH)

Physician Wealth Advisors Inc. acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 126 shares of the industrial products company’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CreativeOne Wealth LLC raised its stake in shares of Parker-Hannifin by 24.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 965 shares of the industrial products company’s stock valued at $610,000 after buying an additional 187 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Parker-Hannifin in the third quarter worth about $1,898,000. FSA Wealth Management LLC bought a new position in Parker-Hannifin during the third quarter worth about $83,000. Point72 Hong Kong Ltd bought a new position in Parker-Hannifin during the third quarter worth about $3,458,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Parker-Hannifin by 71.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,153 shares of the industrial products company’s stock valued at $1,992,000 after purchasing an additional 1,317 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of several analyst reports. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial lifted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $600.78 on Monday. The stock has a market cap of $77.33 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The stock has a 50-day moving average of $658.39 and a 200-day moving average of $655.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.