HMS Capital Management LLC Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

HMS Capital Management LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,167 shares of the industrial products company’s stock after buying an additional 38 shares during the quarter. Parker-Hannifin accounts for about 1.0% of HMS Capital Management LLC’s portfolio, making the stock its 26th biggest position. HMS Capital Management LLC’s holdings in Parker-Hannifin were worth $2,014,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ingalls & Snyder LLC lifted its stake in shares of Parker-Hannifin by 0.3% in the 4th quarter. Ingalls & Snyder LLC now owns 8,611 shares of the industrial products company’s stock worth $5,477,000 after purchasing an additional 23 shares during the period. Van ECK Associates Corp bought a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $13,682,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Parker-Hannifin by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 56,711 shares of the industrial products company’s stock worth $35,701,000 after purchasing an additional 796 shares during the period. Davidson Capital Management Inc. lifted its stake in shares of Parker-Hannifin by 2.1% in the 4th quarter. Davidson Capital Management Inc. now owns 5,729 shares of the industrial products company’s stock worth $3,644,000 after purchasing an additional 116 shares during the period. Finally, Avidian Wealth Enterprises LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.3 %

PH stock opened at $679.01 on Thursday. The firm has a fifty day moving average price of $664.76 and a 200 day moving average price of $637.49. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market cap of $87.40 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Analyst Ratings Changes

A number of equities research analysts have commented on PH shares. Barclays decreased their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. TD Cowen raised their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial lifted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $729.18.

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.