Choreo LLC Purchases Shares of 529 Parker-Hannifin Co. (NYSE:PH)

Choreo LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, Holdings Channel.com reports. The firm purchased 529 shares of the industrial products company’s stock, valued at approximately $244,000.

Several other institutional investors have also added to or reduced their stakes in PH. Sapient Capital LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $1,392,000. abrdn plc lifted its stake in shares of Parker-Hannifin by 57.8% in the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock valued at $25,247,000 after purchasing an additional 20,073 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $3,305,000. 17 Capital Partners LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $2,271,000. Finally, HMS Capital Management LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $1,225,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PH. Truist Financial raised their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research note on Friday. Mizuho raised their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday. Evercore ISI raised their price target on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Stifel Nicolaus raised their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $523.94.

Parker-Hannifin Trading Up 1.0 %

Shares of NYSE PH opened at $536.18 on Friday. 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 business has a fifty day simple moving average of $544.86 and a two-hundred day simple moving average of $481.66. The firm has a market cap of $68.85 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.91 and a beta of 1.51. Parker-Hannifin Co. has a twelve month low of $319.14 and a twelve month high of $570.15.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.90%.

About Parker-Hannifin

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.