Savant Capital LLC Acquires 46 Shares of Parker-Hannifin Co. (NYSE:PH)

Savant Capital LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,080 shares of the industrial products company’s stock after buying an additional 46 shares during the period. Savant Capital LLC’s holdings in Parker-Hannifin were worth $958,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin during the fourth quarter valued at $26,000. OFI Invest Asset Management bought a new stake in Parker-Hannifin in the third quarter worth about $25,000. Baystate Wealth Management LLC boosted its position in shares of Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares during the period. Oakworth Capital Inc. grew its stake in shares of Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after buying an additional 28 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $42,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Mizuho boosted their price objective on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Barclays reduced their price target on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research note on Friday. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Truist Financial raised their target price on shares of Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $523.94.

Parker-Hannifin Stock Up 1.0 %

Shares of Parker-Hannifin stock opened at $536.18 on Friday. Parker-Hannifin Co. has a 52-week low of $319.14 and a 52-week high of $570.15. The firm’s 50 day moving average price is $544.86 and its 200-day moving average price 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. The company has a market cap of $68.85 billion, a P/E ratio of 25.27, a PEG ratio of 1.91 and a beta of 1.51.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 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.