Johnson Investment Counsel Inc. Buys 23 Shares of Parker-Hannifin Co. (NYSE:PH)

Johnson Investment Counsel Inc. grew its stake in Parker-Hannifin Co. (NYSE:PH) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,222 shares of the industrial products company’s stock after acquiring an additional 23 shares during the period. Johnson Investment Counsel Inc.’s holdings in Parker-Hannifin were worth $1,413,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays lowered their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group decreased their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Trading Up 1.0 %

NYSE PH opened at $612.51 on Wednesday. The company has a fifty day simple moving average of $663.82 and a two-hundred day simple moving average of $651.68. The stock has a market cap of $78.84 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. On average, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.06%. Parker-Hannifin’s payout ratio is currently 26.99%.

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.