Cullen Frost Bankers Inc. Buys 51 Shares of Parker-Hannifin Co. (NYSE:PH)

Cullen Frost Bankers Inc. boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 76.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 118 shares of the industrial products company’s stock after acquiring an additional 51 shares during the period. Cullen Frost Bankers Inc.’s holdings in Parker-Hannifin were worth $75,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the topic of several recent analyst reports. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Trading Up 0.7 %

NYSE PH opened at $635.57 on Monday. 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 company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $664.88 and a 200 day simple moving average of $651.41. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. On average, analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. 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.