New York Life Investment Management LLC Has $10.97 Million Stake in Parker-Hannifin Co. (NYSE:PH)

New York Life Investment Management LLC reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 9.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,253 shares of the industrial products company’s stock after selling 1,759 shares during the quarter. New York Life Investment Management LLC’s holdings in Parker-Hannifin were worth $10,973,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Integrated Advisors Network LLC raised its holdings in Parker-Hannifin by 5.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,458 shares of the industrial products company’s stock valued at $921,000 after acquiring an additional 78 shares during the period. Diversify Advisory Services LLC raised its position in shares of Parker-Hannifin by 29.8% in the 3rd quarter. Diversify Advisory Services LLC now owns 558 shares of the industrial products company’s stock valued at $351,000 after buying an additional 128 shares in the last quarter. Valmark Advisers Inc. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $365,000. Fidelis Capital Partners LLC lifted its stake in Parker-Hannifin by 6.5% during the third quarter. Fidelis Capital Partners LLC now owns 965 shares of the industrial products company’s stock worth $608,000 after purchasing an additional 59 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its position in shares of Parker-Hannifin by 78.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,673 shares of the industrial products company’s stock worth $1,057,000 after buying an additional 735 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of PH opened at $655.12 on Friday. The firm 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. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The stock has a 50 day moving average price of $665.73 and a two-hundred day moving average price of $647.90. 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 announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PH shares. Evercore ISI upped their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays dropped their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial boosted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

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.