Moment Partners LLC Buys New Stake in Parker-Hannifin Co. (NYSE:PH)

Moment Partners LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 420 shares of the industrial products company’s stock, valued at approximately $267,000.

Several other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% in the 3rd 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 purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 2.2 %

PH opened at $636.82 on Thursday. The firm has a market cap of $81.97 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The business’s 50 day moving average is $660.41 and its two-hundred day moving average is $654.11. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its 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 net margin of 15.87% and a return on equity of 27.34%. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” 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 decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Truist Financial raised 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. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.