Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 30.8% during the 4th quarter, Holdings Channel reports. The firm owned 17,129 shares of the industrial products company’s stock after buying an additional 4,030 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Parker-Hannifin were worth $10,979,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the third quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $44,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $691.65 on Friday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The business’s fifty day simple moving average is $666.12 and its 200-day simple moving average is $633.00. The firm has a market cap of $89.03 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 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%. Equities analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PH. Argus raised their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus raised their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen boosted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $725.06.

Parker-Hannifin 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.