Magnetar Financial LLC Purchases Shares of 8,779 Parker-Hannifin Co. (NYSE:PH)

Magnetar Financial LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,779 shares of the industrial products company’s stock, valued at approximately $5,584,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Empowered Funds LLC grew its holdings in shares of Parker-Hannifin by 13.5% in the third quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock worth $1,579,000 after purchasing an additional 298 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Parker-Hannifin by 4.8% in the third quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company’s stock worth $25,201,000 after purchasing an additional 1,825 shares during the last quarter. LMR Partners LLP grew its holdings in shares of Parker-Hannifin by 13.2% in the third quarter. LMR Partners LLP now owns 694 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 81 shares during the last quarter. Aviance Capital Partners LLC grew its holdings in shares of Parker-Hannifin by 9.7% in the third quarter. Aviance Capital Partners LLC now owns 543 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 48 shares during the last quarter. Finally, Pathstone Holdings LLC grew its holdings in shares of Parker-Hannifin by 13.4% in the third quarter. Pathstone Holdings LLC now owns 18,551 shares of the industrial products company’s stock worth $11,721,000 after purchasing an additional 2,186 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

PH opened at $629.93 on Thursday. The stock has a 50-day moving average price of $661.07 and a 200-day moving average price of $652.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $81.08 billion, a PE ratio of 26.07, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

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 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%. Sell-side analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PH. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays cut their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Truist Financial lifted their price target 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, Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.