Parker-Hannifin Co. (NYSE:PH) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,224 shares of the industrial products company’s stock after selling 135 shares during the period. Mattern Capital Management LLC’s holdings in Parker-Hannifin were worth $7,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC increased 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 worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $44,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PH shares. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. UBS Group dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. TD Cowen lifted their target price 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. KeyCorp lifted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $695.82 on Friday. The stock has a market cap of $89.57 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. The company has a fifty day simple moving average of $665.39 and a 200-day simple moving average of $643.20. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. 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 (NYSE:PH) last released its quarterly earnings data 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%. Equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

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.