Wayfinding Financial LLC Purchases New Shares in Parker-Hannifin Co. (NYSE:PH)

Wayfinding Financial LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 366 shares of the industrial products company’s stock, valued at approximately $232,000.

Other large investors have also added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $106,000. Holderness Investments Co. boosted its stake in Parker-Hannifin by 13.8% in the 4th quarter. Holderness Investments Co. now owns 931 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 113 shares in the last quarter. HUB Investment Partners LLC boosted its stake in Parker-Hannifin by 15.7% in the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after purchasing an additional 1,057 shares in the last quarter. Whittier Trust Co. boosted its stake in Parker-Hannifin by 13.8% in the 4th quarter. Whittier Trust Co. now owns 3,226 shares of the industrial products company’s stock worth $2,052,000 after purchasing an additional 392 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $5,584,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PH shares. KeyCorp upped their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group boosted 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. Finally, Evercore ISI boosted 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. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

NYSE PH opened at $622.79 on Friday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a market capitalization of $80.17 billion, a P/E ratio of 25.78, a PEG ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $660.60 and a 200-day moving average price of $652.13.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is 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.