PFG Advisors Sells 21 Shares of Parker-Hannifin Co. (NYSE:PH)

PFG Advisors trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 617 shares of the industrial products company’s stock after selling 21 shares during the quarter. PFG Advisors’ holdings in Parker-Hannifin were worth $393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its position in shares of 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 worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of several research reports. Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Finally, Evercore ISI lifted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Up 2.8 %

PH stock opened at $608.17 on Friday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The business has a fifty day moving average price of $662.02 and a 200-day moving average price of $651.54. 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 stock has a market capitalization of $78.28 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50.

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 return on equity of 27.34% and a net margin of 15.87%. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.