Castellan Group Has $2.42 Million Position in Parker-Hannifin Co. (NYSE:PH)

Castellan Group trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,804 shares of the industrial products company’s stock after selling 63 shares during the quarter. Castellan Group’s holdings in Parker-Hannifin were worth $2,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. West Branch Capital LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at about $25,000. 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 during the fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth approximately $39,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at $44,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.3 %

PH stock opened at $679.01 on Thursday. The firm has a 50-day moving average price of $664.76 and a 200-day moving average price of $637.49. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $87.40 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

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 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 anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

PH has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Stifel Nicolaus increased their price target on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, 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. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $729.18.

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.