Kirtland Hills Capital Management LLC Raises Stock Position in Parker-Hannifin Co. (NYSE:PH)

Kirtland Hills Capital Management LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,205 shares of the industrial products company’s stock after acquiring an additional 30 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Parker-Hannifin were worth $1,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $23,390,000. SG Americas Securities LLC increased its position in shares of Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Columbus Macro LLC increased its position in shares of Parker-Hannifin by 485.2% during the fourth 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. Finally, Congress Asset Management Co. increased its position in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after purchasing an additional 25,605 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays dropped their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Price Performance

PH stock opened at $657.27 on Wednesday. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a market capitalization of $84.60 billion, a P/E ratio of 27.20, a P/E/G ratio of 2.85 and a beta of 1.45. 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 business’s 50-day moving average is $665.08 and its two-hundred day moving average is $647.76.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

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.