Achmea Investment Management B.V. Reduces Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Achmea Investment Management B.V. lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,690 shares of the industrial products company's stock after selling 4,908 shares during the period. Achmea Investment Management B.V.'s holdings in Parker-Hannifin were worth $10,615,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Tredje AP fonden grew its position in Parker-Hannifin by 11.9% during the 4th quarter. Tredje AP fonden now owns 54,842 shares of the industrial products company's stock worth $34,881,000 after purchasing an additional 5,820 shares during the last quarter. Vestcor Inc grew its position in Parker-Hannifin by 17.6% during the 4th quarter. Vestcor Inc now owns 5,867 shares of the industrial products company's stock worth $3,732,000 after purchasing an additional 876 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Parker-Hannifin by 1.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,616 shares of the industrial products company's stock worth $6,116,000 after purchasing an additional 156 shares during the last quarter. Farther Finance Advisors LLC grew its position in Parker-Hannifin by 4.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,261 shares of the industrial products company's stock worth $802,000 after purchasing an additional 49 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Parker-Hannifin by 60.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 684 shares of the industrial products company's stock worth $435,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on PH. KeyCorp lifted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Jefferies Financial Group lifted 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. Truist Financial lifted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. UBS Group decreased their price objective on shares of 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, StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, February 8th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $736.65.

Parker-Hannifin Price Performance

NYSE:PH traded down $5.72 during trading hours on Tuesday, reaching $615.86. 733,405 shares of the company were exchanged, compared to its average volume of 637,707. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average is $661.68 and its 200-day moving average is $652.21. The firm has a market cap of $79.27 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's payout ratio is 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.