Cerity Partners LLC reduced its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,021 shares of the industrial products company's stock after selling 6,261 shares during the period. Cerity Partners LLC's holdings in Parker-Hannifin were worth $36,121,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Trek Financial LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at $3,207,000. Benchmark Investment Advisors LLC increased its position in Parker-Hannifin by 4.3% during the fourth quarter. Benchmark Investment Advisors LLC now owns 3,356 shares of the industrial products company's stock worth $2,135,000 after buying an additional 138 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin during the fourth quarter valued at about $25,000. Federated Hermes Inc. lifted its position in shares of Parker-Hannifin by 24.5% in the fourth quarter. Federated Hermes Inc. now owns 53,999 shares of the industrial products company's stock worth $34,345,000 after buying an additional 10,628 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Parker-Hannifin by 6.9% during the 4th quarter. Russell Investments Group Ltd. now owns 86,003 shares of the industrial products company's stock valued at $54,707,000 after acquiring an additional 5,542 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Barclays reduced their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. KeyCorp cut their target price 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. Finally, UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $720.47.
Read Our Latest Stock Report on PH
Parker-Hannifin Price Performance
NYSE PH traded up $4.60 on Friday, reaching $564.78. The company's stock had a trading volume of 938,635 shares, compared to its average volume of 711,680. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week 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 firm has a market cap of $72.70 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The business has a 50-day moving average price of $631.27 and a 200 day moving average price of $651.01.
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 for the quarter, beating 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%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is 26.99%.
Parker-Hannifin Profile
(
Free Report)
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.
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