CNB Bank grew its holdings in Parker-Hannifin Corp (NYSE:PH) by 39.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 273 shares of the industrial products company’s stock after acquiring an additional 77 shares during the quarter. CNB Bank’s holdings in Parker-Hannifin were worth $41,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in Parker-Hannifin by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,739,098 shares of the industrial products company’s stock valued at $259,369,000 after acquiring an additional 270,202 shares during the period. Lafayette Investments Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $388,000. Rothschild & Co. Asset Management US Inc. lifted its holdings in Parker-Hannifin by 0.9% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 219,793 shares of the industrial products company’s stock valued at $32,779,000 after acquiring an additional 1,861 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Parker-Hannifin by 1.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,849 shares of the industrial products company’s stock valued at $723,000 after acquiring an additional 92 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Parker-Hannifin by 4.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,003 shares of the industrial products company’s stock valued at $746,000 after acquiring an additional 200 shares during the period. 80.82% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin stock opened at $171.37 on Thursday. The company has a market capitalization of $22.22 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. Parker-Hannifin Corp has a 12 month low of $140.82 and a 12 month high of $193.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.52 and a quick ratio of 1.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.
In other news, Director Candy M. Obourn sold 926 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $162.18, for a total value of $150,178.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by insiders.
A number of research analysts have issued reports on the company. Robert W. Baird set a $180.00 price target on Parker-Hannifin and gave the company a “buy” rating in a report on Saturday, February 2nd. Zacks Investment Research raised Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Vertical Research downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Friday, February 1st. ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Barclays decreased their price target on Parker-Hannifin from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $181.63.
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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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