American Century Companies Inc. Cuts Holdings in Parker-Hannifin Co. (NYSE:PH)

American Century Companies Inc. decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 19.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,161 shares of the industrial products company’s stock after selling 61,527 shares during the period. American Century Companies Inc. owned approximately 0.19% of Parker-Hannifin worth $157,838,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin in the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin in the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new position in Parker-Hannifin in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PH. Barclays dropped their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Citigroup started coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Truist Financial raised their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI raised their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $622.79 on Friday. The company’s 50 day moving average is $660.60 and its 200 day moving average is $652.66. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The firm has a market cap of $80.17 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released 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 net margin of 15.87% and a return on equity of 27.34%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.