Schroder Investment Management Group Trims Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Schroder Investment Management Group lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 0.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 811,910 shares of the industrial products company’s stock after selling 4,909 shares during the quarter. Schroder Investment Management Group’s holdings in Parker-Hannifin were worth $516,399,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PH. Strategy Asset Managers LLC raised its stake in shares of Parker-Hannifin by 6.6% in the 4th quarter. Strategy Asset Managers LLC now owns 599 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 37 shares during the period. Allstate Corp acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $2,420,000. Brown Brothers Harriman & Co. raised its position in Parker-Hannifin by 10.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,646 shares of the industrial products company’s stock valued at $1,047,000 after purchasing an additional 155 shares during the period. Level Four Advisory Services LLC lifted its stake in Parker-Hannifin by 6.2% during the fourth quarter. Level Four Advisory Services LLC now owns 1,086 shares of the industrial products company’s stock worth $691,000 after purchasing an additional 63 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Parker-Hannifin by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,349 shares of the industrial products company’s stock worth $2,766,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PH. Barclays decreased their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

Shares of PH opened at $600.78 on Friday. The stock’s 50 day moving average is $658.39 and its two-hundred day moving average is $654.58. The firm has a market capitalization of $77.33 billion, a PE ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. 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 Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

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

Parker-Hannifin Announces Dividend

The business 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 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

About Parker-Hannifin

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.