Strategic Advisors LLC Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Strategic Advisors LLC reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,414 shares of the industrial products company’s stock after selling 54 shares during the period. Parker-Hannifin comprises 0.7% of Strategic Advisors LLC’s holdings, making the stock its 27th biggest position. Strategic Advisors LLC’s holdings in Parker-Hannifin were worth $4,079,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after buying an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $23,390,000. SG Americas Securities LLC raised its stake in Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after purchasing an additional 21,521 shares during the period. Wilkinson Global Asset Management LLC raised its stake in Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after purchasing an additional 14,526 shares during the period. Finally, Columbus Macro LLC raised its stake in Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 8,914 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

PH opened at $700.13 on Monday. The business has a fifty day moving average of $664.47 and a 200 day moving average of $639.83. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $90.12 billion, a P/E ratio of 28.98, a PEG 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PH. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $729.18.

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.