Dimensional Fund Advisors LP Sells 6,248 Shares of Parker-Hannifin Co. (NYSE:PH)

Dimensional Fund Advisors LP lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 694,288 shares of the industrial products company’s stock after selling 6,248 shares during the period. Dimensional Fund Advisors LP owned 0.54% of Parker-Hannifin worth $441,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth $40,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of PH stock opened at $561.21 on Friday. The company has a market capitalization of $72.24 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. The company’s 50-day simple moving average is $619.17 and its two-hundred day simple moving average is $648.56. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. 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 (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm 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. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PH. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Citigroup lowered their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Wells Fargo & Company lifted 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, Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and fourteen have assigned 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 $705.35.

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.