Retirement Stock Portfolio: 5 Safe Dividend Stocks To Consider

2. Parker-Hannifin Corporation (NYSE:PH)

Number of Hedge Fund Holders: 42  

Consecutive Years of Dividend Growth: 65    

Forward Dividend Yield: 1.38%  

On August 12, Parker-Hannifin Corporation (NYSE:PH) declared a quarterly dividend of $1.03 per share, in line with previous. In the fourth fiscal quarter earnings, posted on August 5, the company reported earnings per share of $4.38, beating estimates by $0.64. The revenue over the period was $3.9 billion, up 25% compared to the revenue over the same period last year and beating predictions by $30 million. 

On October 12, investment advisory Melius Research upgraded Parker-Hannifin Corporation (NYSE:PH) stock to Buy from Hold with a two-year price target of $458. The target reflects an upside potential of over 50% from the present share price. 

Out of the hedge funds being tracked by Insider Monkey, Ohio-based investment firm Diamond Hill Capital is a leading shareholder in Parker-Hannifin Corporation (NYSE:PH) with 1.5 million shares worth more than $463 million. 

In its Q1 2021 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Parker-Hannifin Corporation (NYSE:PH) was one of them. Here is what the fund said:

“Parker Hannifin approached our estimates of intrinsic value and were, therefore, eliminated during the period. The company was a longstanding investment of the Fund and produced successful outcomes. We believe Parker Hannifin, one of our longest tenured positions, is a high-quality, well-managed industrial with strong competitive positions in good end markets. However, after the market price reflected these positives, we elected to sell to pursue more attractive alternatives that were priced at steeper discounts to our estimates of intrinsic value.”