Savant Capital LLC Grows Stake in Parker-Hannifin Co. (NYSE:PH)

Savant Capital LLC lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,080 shares of the industrial products company’s stock after purchasing an additional 46 shares during the quarter. Savant Capital LLC’s holdings in Parker-Hannifin were worth $958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in shares of Parker-Hannifin by 6.1% in the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the industrial products company’s stock valued at $604,000 after buying an additional 75 shares during the period. Certuity LLC bought a new stake in Parker-Hannifin in the fourth quarter worth about $744,000. Ledyard National Bank bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $256,000. Chase Investment Counsel Corp boosted its holdings in Parker-Hannifin by 1.6% during the fourth quarter. Chase Investment Counsel Corp now owns 1,668 shares of the industrial products company’s stock worth $768,000 after buying an additional 27 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $244,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Evercore ISI boosted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Mizuho boosted their price objective on shares of Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a research report on Friday. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Barclays dropped their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Truist Financial lifted their price target on Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $523.94.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $536.18 on Friday. The company has a market cap of $68.85 billion, a P/E ratio of 25.27, a P/E/G ratio of 1.91 and a beta of 1.51. Parker-Hannifin Co. has a 12 month low of $319.14 and a 12 month high of $570.15. The business’s 50 day moving average is $544.86 and its two-hundred day moving average is $481.66. The company has a quick ratio of 0.49, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the business earned $5.93 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Co. will post 24.69 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 27.90%.

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.