Haverford Trust Co Has $490,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Haverford Trust Co lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 770 shares of the industrial products company’s stock after selling 76 shares during the period. Haverford Trust Co’s holdings in Parker-Hannifin were worth $490,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at about $30,000. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth about $40,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PH. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Evercore ISI increased their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. 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 objective on the stock. Finally, Barclays reduced their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Trading Up 1.4 %

Shares of Parker-Hannifin stock opened at $651.41 on Wednesday. The stock has a market capitalization of $83.85 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month 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 company has a 50-day simple moving average of $660.80 and a 200 day simple moving average of $654.24.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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 net margin of 15.87% and a return on equity of 27.34%. Research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. 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 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.