Endowment Wealth Management Inc. Sells 29 Shares of Parker-Hannifin Co. (NYSE:PH)

Endowment Wealth Management Inc. trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651 shares of the industrial products company’s stock after selling 29 shares during the period. Endowment Wealth Management Inc.’s holdings in Parker-Hannifin were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin during the fourth quarter valued at about $35,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin in the fourth quarter worth about $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 4.3 %

Shares of NYSE:PH opened at $607.29 on Tuesday. The firm’s 50 day moving average price is $664.29 and its 200 day moving average price is $651.55. The stock has a market cap of $78.17 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two 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.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced 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 was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup assumed coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. Finally, TD Cowen upped their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $736.65.

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.