Parker-Hannifin Co. (NYSE:PH) Shares Purchased by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 27.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,093 shares of the industrial products company’s stock after buying an additional 1,095 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Parker-Hannifin were worth $3,239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Prestige Wealth Management Group LLC lifted its position in 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 buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.4 %

Shares of NYSE:PH opened at $651.41 on Wednesday. The company has a 50 day moving average price of $660.80 and a two-hundred day moving average price of $654.24. The company has a market capitalization of $83.85 billion, a PE ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

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

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analyst Ratings Changes

Several analysts recently issued reports on PH shares. Jefferies Financial Group increased their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.