Parker-Hannifin Co. (NYSE:PH) Shares Sold by WealthCollab LLC

WealthCollab LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 26.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52 shares of the industrial products company’s stock after selling 19 shares during the quarter. WealthCollab LLC’s holdings in Parker-Hannifin were worth $33,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PH. Becker Capital Management Inc. boosted its holdings in shares of Parker-Hannifin by 3.4% in the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 16 shares in the last quarter. Gallo Partners LP acquired a new stake in Parker-Hannifin in the fourth quarter worth approximately $5,259,000. Voleon Capital Management LP bought a new position in Parker-Hannifin during the 4th quarter valued at $3,054,000. Schonfeld Strategic Advisors LLC increased its position in shares of Parker-Hannifin by 37.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 89,922 shares of the industrial products company’s stock valued at $57,193,000 after purchasing an additional 24,487 shares during the period. Finally, Northern Trust Corp increased its position in shares of Parker-Hannifin by 15.7% during the 4th quarter. Northern Trust Corp now owns 1,345,564 shares of the industrial products company’s stock valued at $855,819,000 after purchasing an additional 182,134 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $603.57 on Wednesday. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $77.69 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The business has a fifty day simple moving average of $603.68 and a 200-day simple moving average of $646.30.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 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%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is currently 29.80%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp reduced their price objective on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Citigroup reduced their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Company 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.