Diamond Hill Capital Management Inc. Sells 402,161 Shares of Parker-Hannifin Co. (NYSE:PH)

Diamond Hill Capital Management Inc. lowered its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 401,682 shares of the industrial products company's stock after selling 402,161 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.31% of Parker-Hannifin worth $255,482,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its stake in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

NYSE PH traded down $5.72 during trading on Tuesday, hitting $615.86. 733,406 shares of the company's stock traded hands, compared to its average volume of 637,707. The stock has a market capitalization of $79.27 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business has a 50 day moving average of $661.68 and a 200-day moving average of $652.21.

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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 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, equities research analysts anticipate 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. Investors of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Analyst Ratings Changes

Several research analysts have issued reports on PH shares. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. KeyCorp increased their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, February 8th. Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $736.65.

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.