Paradigm Asset Management Co. LLC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Paradigm Asset Management Co. LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1,533.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,900 shares of the industrial products company’s stock after purchasing an additional 4,600 shares during the quarter. Parker-Hannifin comprises approximately 0.9% of Paradigm Asset Management Co. LLC’s portfolio, making the stock its 19th biggest position. Paradigm Asset Management Co. LLC’s holdings in Parker-Hannifin were worth $3,117,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Prestige Wealth Management Group LLC grew its holdings in 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 acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the fourth quarter worth $40,000. Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $44,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $695.82 on Friday. The firm has a market cap of $89.57 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.87 and a beta of 1.45. The stock has a 50 day moving average of $665.39 and a 200-day moving average of $643.20. 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 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced 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%. As a group, analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. 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 is presently 26.99%.

Analysts Set New Price Targets

Several research firms have weighed in on PH. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

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.