CANADA LIFE ASSURANCE Co Reduces Position in Parker-Hannifin Co. (NYSE:PH)

CANADA LIFE ASSURANCE Co lessened its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,191 shares of the industrial products company's stock after selling 46,154 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.06% of Parker-Hannifin worth $46,488,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PH. Anchor Investment Management LLC raised its holdings in Parker-Hannifin by 10.5% in the 3rd quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock valued at $200,000 after acquiring an additional 30 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $217,000. World Investment Advisors LLC purchased a new position in Parker-Hannifin during the third quarter worth approximately $584,000. Wilmington Savings Fund Society FSB boosted its stake in Parker-Hannifin by 176.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock worth $5,755,000 after buying an additional 5,817 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in Parker-Hannifin by 10.8% in the 3rd quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company's stock valued at $6,118,000 after buying an additional 946 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. KeyCorp decreased their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Evercore ISI upped their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $705.35.

Parker-Hannifin Stock Up 2.8 %

Shares of PH stock traded up $16.16 during trading on Thursday, reaching $596.97. The company's stock had a trading volume of 569,745 shares, compared to its average volume of 843,731. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The stock's 50-day moving average price is $611.61 and its 200 day moving average price is $647.11. The company has a market capitalization of $76.84 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 2.85 and a beta of 1.39. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate 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, research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

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.