Amalgamated Bank Raises Holdings in Parker-Hannifin Co. (NYSE:PH)

Amalgamated Bank lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,258 shares of the industrial products company’s stock after acquiring an additional 48 shares during the period. Amalgamated Bank’s holdings in Parker-Hannifin were worth $16,065,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC boosted its holdings in shares of Parker-Hannifin by 83.3% during the third 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 last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the 4th quarter worth about $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $40,000. Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $44,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.3 %

Shares of NYSE:PH opened at $657.27 on Wednesday. The firm has a market cap of $84.60 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a fifty day simple moving average of $665.08 and a 200 day simple moving average of $647.76. 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 Co. has a 12-month low of $492.71 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PH. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Argus lifted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI increased their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus increased their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a 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, the company currently has an average rating of “Moderate Buy” and an average target price 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.