Amica Retiree Medical Trust Decreases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Amica Retiree Medical Trust decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,330 shares of the industrial products company’s stock after selling 202 shares during the period. Parker-Hannifin comprises approximately 1.4% of Amica Retiree Medical Trust’s holdings, making the stock its 13th biggest holding. Amica Retiree Medical Trust’s holdings in Parker-Hannifin were worth $1,482,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $23,390,000. SG Americas Securities LLC raised its position in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after purchasing an additional 21,521 shares in the last quarter. Columbus Macro LLC boosted its stake in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 2.2 %

NYSE:PH opened at $636.82 on Thursday. The company has a market capitalization of $81.97 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.85 and a beta of 1.50. The stock’s 50 day moving average price is $660.41 and its 200 day moving average price is $654.11. 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 Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. On average, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s payout ratio is currently 26.99%.

Analysts Set New Price Targets

A number of research firms have commented on PH. Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays decreased their target price 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. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

About Parker-Hannifin

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.