Amica Mutual Insurance Co. Cuts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Amica Mutual Insurance Co. trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,633 shares of the industrial products company’s stock after selling 911 shares during the period. Parker-Hannifin comprises about 1.3% of Amica Mutual Insurance Co.’s portfolio, making the stock its 13th largest holding. Amica Mutual Insurance Co.’s holdings in Parker-Hannifin were worth $13,123,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PH. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at about $30,000. Prestige Wealth Management Group LLC boosted its position 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 purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PH shares. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Wells Fargo & Company increased their target price 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, Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Down 2.2 %

PH stock opened at $636.82 on Thursday. The company’s 50 day simple moving average is $660.41 and its 200-day simple moving average is $654.11. The firm has a market capitalization of $81.97 billion, a PE ratio of 26.36, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earnings per share 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 paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio 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.