Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 16.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,982 shares of the industrial products company’s stock after purchasing an additional 1,148 shares during the period. Kestra Private Wealth Services LLC’s holdings in Parker-Hannifin were worth $5,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. CVA Family Office LLC raised its position in shares of Parker-Hannifin by 3.9% during the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 16 shares during the last quarter. Grove Bank & Trust raised its position in shares of Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Moody Lynn & Lieberson LLC raised its position in shares of Parker-Hannifin by 0.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 16 shares during the last quarter. Everpar Advisors LLC raised its position in shares of Parker-Hannifin by 1.3% during the 4th quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 17 shares during the last quarter. Finally, LVW Advisors LLC raised its position in shares of Parker-Hannifin by 0.9% during the 4th quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock worth $1,252,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $680.50 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $87.59 billion, a P/E ratio of 28.17, a PEG ratio of 2.84 and a beta of 1.45. The company has a 50 day moving average price of $665.57 and a 200 day moving average price of $635.64. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PH shares. TD Cowen upped their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Wells Fargo & Company upped their price objective 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. Argus upped their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup started coverage on shares of Parker-Hannifin in a research note on Friday. They set a “buy” rating and a $795.00 price objective for the company. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $729.18.

About Parker-Hannifin

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.