Parker-Hannifin Co. (NYSE:PH) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,321 shares of the industrial products company’s stock after selling 51 shares during the period. Private Advisor Group LLC’s holdings in Parker-Hannifin were worth $3,384,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PH. Prestige Wealth Management Group LLC raised its stake in 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 valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $40,000. Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $44,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $47,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on PH. Barclays reduced their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Finally, UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Price Performance

Shares of PH opened at $667.06 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $85.86 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 2.85 and a beta of 1.45. The business’s 50-day moving average is $665.56 and its 200-day moving average is $646.50. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 return on equity of 27.34% and a net margin of 15.87%. Equities research analysts expect 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 will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is 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.