RNC Capital Management LLC Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

RNC Capital Management LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 730 shares of the industrial products company’s stock after acquiring an additional 50 shares during the period. RNC Capital Management LLC’s holdings in Parker-Hannifin were worth $464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PH. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its holdings 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 purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth approximately $39,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $44,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PH shares. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. TD Cowen boosted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $725.06.

Parker-Hannifin Trading Up 0.4 %

Shares of PH stock opened at $691.65 on Friday. 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 Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The stock has a fifty day moving average of $666.12 and a two-hundred day moving average of $633.00. The firm has a market capitalization of $89.03 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.67 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. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

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.