Two Point Capital Management Inc. Has $11.78 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Two Point Capital Management Inc. cut its stake in Parker-Hannifin Co. (NYSE:PH) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,366 shares of the industrial products company’s stock after selling 127 shares during the quarter. Parker-Hannifin accounts for 4.2% of Two Point Capital Management Inc.’s holdings, making the stock its 10th biggest position. Two Point Capital Management Inc.’s holdings in Parker-Hannifin were worth $11,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Grove Bank & Trust increased its position in Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after buying an additional 16 shares during the period. Moody Lynn & Lieberson LLC lifted its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after buying an additional 16 shares during the period. Everpar Advisors LLC increased its stake in Parker-Hannifin by 1.3% in the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 17 shares in the last quarter. LVW Advisors LLC increased its stake in Parker-Hannifin by 0.9% in the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock valued at $1,252,000 after purchasing an additional 17 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. increased its position in shares of Parker-Hannifin by 0.7% during the fourth quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock worth $1,603,000 after acquiring an additional 18 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $679.01 on Thursday. The business has a 50 day moving average price of $664.76 and a 200 day moving average price of $637.49. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $87.40 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group lowered their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Mizuho boosted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin 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.