Peregrine Asset Advisers Inc. Purchases 7,946 Shares of Parker-Hannifin Co. (NYSE:PH)

Peregrine Asset Advisers Inc. grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1,413.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,508 shares of the industrial products company’s stock after acquiring an additional 7,946 shares during the quarter. Parker-Hannifin accounts for 2.0% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 10th biggest position. Peregrine Asset Advisers Inc.’s holdings in Parker-Hannifin were worth $5,411,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PH. Franklin Resources Inc. boosted its stake in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after buying an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $23,390,000. SG Americas Securities LLC grew its stake in Parker-Hannifin by 752.5% in the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Wilkinson Global Asset Management LLC increased its position in shares of Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares during the last quarter. Finally, Columbus Macro LLC raised its stake in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 8,914 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

PH stock opened at $667.06 on Friday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. 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 stock has a market cap of $85.86 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 2.85 and a beta of 1.45. The company has a 50 day simple moving average of $665.65 and a 200 day simple moving average of $643.57.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PH. KeyCorp raised their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wolfe Research raised 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. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $739.06.

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.