Bank of Montreal Can Trims Position in Parker-Hannifin Co. (NYSE:PH)

Bank of Montreal Can reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 693,883 shares of the industrial products company's stock after selling 27,834 shares during the period. Bank of Montreal Can owned approximately 0.54% of Parker-Hannifin worth $441,330,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PH. Vanguard Group Inc. increased its position in shares of Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after buying an additional 111,406 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after acquiring an additional 99,261 shares during the last quarter. Norges Bank acquired a new position in Parker-Hannifin in the 4th quarter valued at about $1,106,132,000. Proficio Capital Partners LLC grew its position in Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after acquiring an additional 1,139,265 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 41.1% during the 4th quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company's stock worth $579,471,000 after purchasing an additional 265,559 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PH. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a "buy" rating and a $795.00 price target on the stock. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Truist Financial decreased their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, UBS Group dropped their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $720.47.

Parker-Hannifin Stock Up 0.8 %

Shares of PH stock traded up $4.60 on Friday, reaching $564.78. 938,635 shares of the stock were exchanged, compared to its average volume of 710,689. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. 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 company has a market capitalization of $72.70 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.85 and a beta of 1.39. The business's 50 day moving average price is $631.27 and its 200 day moving average price is $650.91.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed 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 yield of 1.15%. Parker-Hannifin's dividend payout ratio is presently 26.99%.

Parker-Hannifin 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.