Deprince Race & Zollo Inc. Has $38.25 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Deprince Race & Zollo Inc. trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 11.6% during the fourth quarter, Holdings Channel reports. The firm owned 60,134 shares of the industrial products company’s stock after selling 7,883 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Parker-Hannifin were worth $38,247,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Parker-Hannifin by 9.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock valued at $1,282,294,000 after purchasing an additional 172,064 shares in the last quarter. EP Wealth Advisors LLC raised its position in Parker-Hannifin by 8.0% in the 4th quarter. EP Wealth Advisors LLC now owns 3,708 shares of the industrial products company’s stock valued at $2,358,000 after buying an additional 276 shares during the last quarter. Colonial Trust Co SC boosted its holdings in Parker-Hannifin by 10.3% during the 4th quarter. Colonial Trust Co SC now owns 470 shares of the industrial products company’s stock worth $299,000 after acquiring an additional 44 shares during the last quarter. Concentric Capital Strategies LP grew its stake in shares of Parker-Hannifin by 5.2% in the 4th quarter. Concentric Capital Strategies LP now owns 24,405 shares of the industrial products company’s stock worth $15,522,000 after acquiring an additional 1,199 shares in the last quarter. Finally, CoreCap Advisors LLC raised its holdings in shares of Parker-Hannifin by 0.5% in the fourth quarter. CoreCap Advisors LLC now owns 4,639 shares of the industrial products company’s stock valued at $2,951,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.5 %

NYSE:PH opened at $623.03 on Thursday. The company has a market cap of $80.20 billion, a P/E ratio of 25.79, a P/E/G ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 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. The stock’s fifty day moving average price is $598.10 and its two-hundred day moving average price is $645.22.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm earned $6.51 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.16%. Parker-Hannifin’s dividend payout ratio is currently 27.72%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PH. KeyCorp upped their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Citigroup decreased 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. Truist Financial reduced their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, Argus set a $680.00 target price on shares of Parker-Hannifin in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $710.12.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.39% of the company’s stock.

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.