PNC Financial Services Group Inc. Has $178.92 Million Position in Parker-Hannifin Co. (NYSE:PH)

PNC Financial Services Group Inc. grew its position in Parker-Hannifin Co. (NYSE:PH) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 281,299 shares of the industrial products company’s stock after purchasing an additional 583 shares during the period. PNC Financial Services Group Inc. owned about 0.22% of Parker-Hannifin worth $178,915,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter valued at $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the fourth quarter worth $44,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PH shares. TD Cowen raised their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Wolfe Research upgraded shares of 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. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. KeyCorp raised their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $635.57 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $81.81 billion, a P/E ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.50. The business has a 50-day moving average of $664.88 and a 200-day moving average of $650.95. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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 analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current 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 issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio is presently 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.