Apriem Advisors lowered its position in Parker-Hannifin Co. (NYSE:PH – Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,250 shares of the industrial products company’s stock after selling 117 shares during the period. Apriem Advisors’ holdings in Parker-Hannifin were worth $795,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in PH. Lineweaver Wealth Advisors LLC acquired a new position in Parker-Hannifin during the fourth quarter worth $219,000. Nwam LLC increased its position in shares of Parker-Hannifin by 5.1% during the fourth quarter. Nwam LLC now owns 1,677 shares of the industrial products company’s stock worth $1,067,000 after acquiring an additional 81 shares in the last quarter. GenTrust LLC raised its holdings in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 15 shares during the last quarter. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at about $25,000. Finally, NewEdge Wealth LLC boosted its stake in Parker-Hannifin by 9.9% during the 4th quarter. NewEdge Wealth LLC now owns 12,020 shares of the industrial products company’s stock valued at $7,645,000 after purchasing an additional 1,086 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.
Parker-Hannifin Trading Up 0.5 %
Shares of PH stock opened at $660.70 on Thursday. 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 firm has a market cap of $85.05 billion, a P/E ratio of 27.35, a PEG ratio of 2.85 and a beta of 1.45. The company has a 50 day moving average of $665.42 and a 200-day moving average of $647.85. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44.
Parker-Hannifin Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.
Wall Street Analysts Forecast Growth
PH has been the subject of several analyst reports. KeyCorp increased 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 lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Argus upped their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.
View Our Latest Analysis on PH
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 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.
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