Gabelli Funds LLC Sells 608 Shares of Parker-Hannifin Co. (NYSE:PH)

Gabelli Funds LLC trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,825 shares of the industrial products company’s stock after selling 608 shares during the period. Gabelli Funds LLC’s holdings in Parker-Hannifin were worth $7,521,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PH. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $30,000. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Truist Financial reduced their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. KeyCorp lowered their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Citigroup decreased their price objective on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $559.84 on Thursday. The company has a market capitalization of $72.06 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company’s 50-day moving average is $623.95 and its 200 day moving average is $649.38. 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 fifty-two week low of $488.45 and a fifty-two week 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 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, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.16%. Parker-Hannifin’s payout ratio is presently 26.99%.

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.