Alphinity Investment Management Pty Ltd Grows Position in Parker-Hannifin Co. (NYSE:PH)

Alphinity Investment Management Pty Ltd grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 845,636 shares of the industrial products company’s stock after purchasing an additional 45,221 shares during the quarter. Parker-Hannifin makes up approximately 2.9% of Alphinity Investment Management Pty Ltd’s portfolio, making the stock its 21st biggest position. Alphinity Investment Management Pty Ltd owned 0.66% of Parker-Hannifin worth $537,850,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its stake in shares of Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 15 shares during the period. FFT Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC boosted its stake in shares of Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 15 shares during the period. Grove Bank & Trust boosted its stake in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC boosted its stake in shares of Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. KeyCorp raised their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two equities research 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, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Price Performance

NYSE PH opened at $660.70 on Thursday. The stock has a 50-day moving average of $665.42 and a 200 day moving average of $647.85. The company has a market capitalization of $85.05 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a one year low of $492.71 and a one year 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 announced its quarterly earnings data 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, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.99%. Parker-Hannifin’s payout ratio is 26.99%.

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.