Parker-Hannifin Co. (NYSE:PH) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,827 shares of the industrial products company’s stock after selling 793 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Parker-Hannifin were worth $10,702,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Argus increased their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Trading Down 0.8 %

Shares of PH opened at $655.12 on Friday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The stock has a market cap of $84.33 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The firm’s fifty day moving average is $665.73 and its two-hundred day moving average is $647.90. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is 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.