Stanley Laman Group Ltd. Sells 1,800 Shares of Parker-Hannifin Co. (NYSE:PH)

Stanley Laman Group Ltd. cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,504 shares of the industrial products company’s stock after selling 1,800 shares during the quarter. Parker-Hannifin comprises 0.8% of Stanley Laman Group Ltd.’s portfolio, making the stock its 22nd largest position. Stanley Laman Group Ltd.’s holdings in Parker-Hannifin were worth $6,045,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PH. Exchange Traded Concepts LLC acquired a new stake in Parker-Hannifin in the third quarter worth $97,000. ORG Partners LLC raised its holdings in Parker-Hannifin by 164.8% in the third quarter. ORG Partners LLC now owns 241 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 150 shares during the period. Grove Bank & Trust raised its holdings in Parker-Hannifin by 20.7% in the third quarter. Grove Bank & Trust now owns 134 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 23 shares during the period. Creative Planning raised its holdings in Parker-Hannifin by 9.9% in the third quarter. Creative Planning now owns 28,003 shares of the industrial products company’s stock worth $17,693,000 after purchasing an additional 2,513 shares during the period. Finally, Swedbank AB raised its holdings in shares of Parker-Hannifin by 377.8% during the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after acquiring an additional 125,000 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Mizuho raised their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Truist Financial raised their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. TD Cowen raised their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Performance

Shares of PH opened at $679.01 on Thursday. The firm has a 50-day moving average of $664.76 and a 200-day moving average of $637.49. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a market cap of $87.40 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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 analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

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.