Parker-Hannifin Co. (NYSE:PH) Shares Bought by Machina Capital S.A.S.

Machina Capital S.A.S. raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 100.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,452 shares of the industrial products company’s stock after buying an additional 729 shares during the period. Machina Capital S.A.S.’s holdings in Parker-Hannifin were worth $669,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Sapient Capital LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $1,392,000. abrdn plc boosted its position in 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 buying an additional 20,073 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $3,305,000. 17 Capital Partners LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $2,271,000. Finally, HMS Capital Management LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at about $1,225,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

PH traded up $14.61 during trading on Monday, reaching $550.79. The stock had a trading volume of 604,648 shares, compared to its average volume of 606,886. The stock has a 50 day moving average of $545.36 and a two-hundred day moving average of $485.16. Parker-Hannifin Co. has a 1-year low of $319.14 and a 1-year high of $570.15. The firm has a market capitalization of $70.73 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $5.93 EPS. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 24.62 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company 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 dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 27.90%.

Analyst Ratings Changes

PH has been the topic of a number of recent analyst reports. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their target price for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Barclays decreased their price objective on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday. KeyCorp lifted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Truist Financial raised their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $539.56.

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.