Tyche Wealth Partners LLC Sells 22 Shares of Parker-Hannifin Co. (NYSE:PH)

Tyche Wealth Partners LLC lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 352 shares of the industrial products company’s stock after selling 22 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Parker-Hannifin were worth $224,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Choreo LLC lifted its stake in shares of Parker-Hannifin by 6.4% during the fourth quarter. Choreo LLC now owns 7,785 shares of the industrial products company’s stock valued at $4,956,000 after acquiring an additional 471 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Parker-Hannifin by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,129 shares of the industrial products company’s stock valued at $10,979,000 after buying an additional 4,030 shares during the period. Berkshire Money Management Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at about $351,000. Jackson Wealth Management LLC lifted its stake in Parker-Hannifin by 0.7% in the fourth quarter. Jackson Wealth Management LLC now owns 4,709 shares of the industrial products company’s stock valued at $2,995,000 after buying an additional 33 shares during the period. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.4 %

Shares of NYSE:PH opened at $691.65 on Friday. The firm has a market cap of $89.03 billion, a P/E ratio of 28.63, a PEG ratio of 2.90 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 business’s 50 day simple moving average is $666.12 and its two-hundred day simple moving average is $633.00. 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 data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PH. Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp increased their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. 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 research report on Friday, December 6th. Finally, Truist Financial increased 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. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

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.