Empower Advisory Group LLC Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Empower Advisory Group LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 14.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the industrial products company’s stock after buying an additional 51 shares during the period. Empower Advisory Group LLC’s holdings in Parker-Hannifin were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at $97,000. OLD National Bancorp IN acquired a new position in Parker-Hannifin in the 3rd quarter valued at $330,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at $39,000. Whittier Trust Co. raised its stake in Parker-Hannifin by 1.8% in the 3rd quarter. Whittier Trust Co. now owns 2,834 shares of the industrial products company’s stock valued at $1,791,000 after purchasing an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in Parker-Hannifin by 3.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,482 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $701.48 on Thursday. The business has a 50-day moving average of $665.08 and a 200 day moving average of $642.79. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The stock has a market capitalization of $90.30 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. 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 (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates 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 forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Argus raised their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird raised their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen raised their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

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.