Parker-Hannifin Co. (NYSE:PH) Shares Sold by Boston Partners

Boston Partners lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 580,054 shares of the industrial products company’s stock after selling 5,788 shares during the quarter. Boston Partners owned approximately 0.45% of Parker-Hannifin worth $368,986,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PH. Empowered Funds LLC increased its holdings in shares of Parker-Hannifin by 13.5% in the third quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock valued at $1,579,000 after purchasing an additional 298 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $306,000. Adero Partners LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $224,000. Claro Advisors LLC increased its holdings in shares of Parker-Hannifin by 62.5% in the third quarter. Claro Advisors LLC now owns 746 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 287 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Parker-Hannifin by 4.8% in the third quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company’s stock valued at $25,201,000 after purchasing an additional 1,825 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 2.3 %

NYSE:PH opened at $622.09 on Tuesday. The firm has a market cap of $80.08 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The stock has a fifty day moving average price of $661.68 and a 200 day moving average price of $652.21. 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.

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, 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%. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PH shares. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

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.