Ashton Thomas Private Wealth LLC Has $2.90 Million Position in Parker-Hannifin Co. (NYSE:PH)

Ashton Thomas Private Wealth LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,555 shares of the industrial products company’s stock after selling 33 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Parker-Hannifin were worth $2,897,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the period. FMR LLC boosted its stake in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC boosted its stake in Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP boosted its stake in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Parker-Hannifin by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of PH opened at $635.57 on Friday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The business has a 50-day simple moving average of $664.88 and a two-hundred day simple moving average of $650.47. 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 $81.81 billion, a PE ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group cut their target price 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. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin 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.