Chevy Chase Trust Holdings LLC Trims Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,797 shares of the industrial products company's stock after selling 1,372 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Parker-Hannifin worth $43,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the third quarter worth about $25,000. Prestige Wealth Management Group LLC grew its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin during the third quarter worth approximately $39,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $44,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

NYSE PH traded down $6.12 during mid-day trading on Tuesday, hitting $694.13. The stock had a trading volume of 758,757 shares, compared to its average volume of 647,586. The company has a 50 day simple moving average of $664.75 and a 200 day simple moving average of $641.55. The company has a market cap of $89.35 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin's dividend payout ratio is presently 26.99%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PH shares. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a "buy" rating and a $795.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Finally, UBS Group cut 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 report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $729.18.

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.