First American Trust FSB Trims Stake in Parker-Hannifin Co. (NYSE:PH)

First American Trust FSB lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 9.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,226 shares of the industrial products company’s stock after selling 347 shares during the quarter. First American Trust FSB’s holdings in Parker-Hannifin were worth $2,052,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Parker-Hannifin by 3.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,771 shares of the industrial products company’s stock valued at $6,174,000 after purchasing an additional 309 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 5.1% in the third quarter. Kingsview Wealth Management LLC now owns 1,799 shares of the industrial products company’s stock valued at $1,136,000 after buying an additional 87 shares during the last quarter. Swedbank AB raised its holdings in shares of Parker-Hannifin by 377.8% in the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock valued at $99,881,000 after buying an additional 125,000 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of Parker-Hannifin by 126.2% during the third quarter. Centaurus Financial Inc. now owns 683 shares of the industrial products company’s stock worth $432,000 after buying an additional 381 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Parker-Hannifin by 14.0% during the third quarter. Daiwa Securities Group Inc. now owns 31,228 shares of the industrial products company’s stock worth $19,730,000 after buying an additional 3,841 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Evercore ISI increased 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. KeyCorp lifted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group cut their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Up 3.4 %

Parker-Hannifin stock opened at $643.21 on Tuesday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The firm has a market capitalization of $82.79 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The stock’s fifty day moving average is $660.71 and its two-hundred day moving average is $653.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors 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 annualized dividend and a dividend yield of 1.01%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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.