Parker-Hannifin Co. (NYSE:PH) Stake Lessened by Private Trust Co. NA

Private Trust Co. NA lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 7.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,984 shares of the industrial products company’s stock after selling 232 shares during the quarter. Private Trust Co. NA’s holdings in Parker-Hannifin were worth $1,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $25,000. Prestige Wealth Management Group LLC increased its stake in Parker-Hannifin by 83.3% during 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 stake in Parker-Hannifin during the fourth quarter valued at $35,000. Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at $40,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at $44,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PH shares. TD Cowen upped 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. UBS Group reduced their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays cut their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Trading Down 0.8 %

NYSE:PH opened at $655.12 on Friday. The stock’s 50 day moving average price is $665.73 and its 200 day moving average price is $647.90. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The company has a market capitalization of $84.33 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. On average, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a 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.