Parker-Hannifin Co. (NYSE:PH) Stock Position Cut by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,611 shares of the industrial products company’s stock after selling 2,687 shares during the quarter. Parker-Hannifin comprises about 1.8% of Moran Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Moran Wealth Management LLC’s holdings in Parker-Hannifin were worth $57,631,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Parker-Hannifin by 83.3% during the 3rd 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 acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth $35,000. Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $44,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. KeyCorp lifted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their price target 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. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Finally, TD Cowen boosted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $635.57 on Monday. The company has a market capitalization of $81.81 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company’s fifty day moving average price is $664.88 and its 200 day moving average price is $651.41. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its 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 net margin of 15.87% and a return on equity of 27.34%. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) 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.