Dimensional Fund Advisors LP Sells 6,248 Shares of Parker-Hannifin Co. (NYSE:PH)

Dimensional Fund Advisors LP lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 694,288 shares of the industrial products company's stock after selling 6,248 shares during the quarter. Dimensional Fund Advisors LP owned 0.54% of Parker-Hannifin worth $441,609,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Forum Financial Management LP boosted its holdings in Parker-Hannifin by 2.6% in the fourth quarter. Forum Financial Management LP now owns 1,365 shares of the industrial products company's stock valued at $868,000 after purchasing an additional 35 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Parker-Hannifin by 24.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 124,465 shares of the industrial products company's stock worth $79,163,000 after purchasing an additional 24,679 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at about $48,125,000. Verisail Partners LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $201,000. Finally, Main Street Financial Solutions LLC raised its position in shares of Parker-Hannifin by 15.4% during the 4th quarter. Main Street Financial Solutions LLC now owns 562 shares of the industrial products company's stock valued at $358,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 2.5 %

Shares of Parker-Hannifin stock traded up $14.38 during midday trading on Wednesday, hitting $581.03. The company's stock had a trading volume of 668,129 shares, compared to its average volume of 714,251. The stock has a 50-day simple moving average of $613.99 and a 200-day simple moving average of $647.57. The firm has a market capitalization of $74.79 billion, a P/E ratio of 24.05, a PEG ratio of 2.85 and a beta of 1.39. 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 Co. has a 1-year low of $488.45 and a 1-year high of $718.44.

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%. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is presently 26.99%.

Analyst Ratings Changes

Several research firms have weighed in on PH. Wells Fargo & Company boosted 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. Truist Financial cut their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Citigroup lowered their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus cut their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Barclays lowered their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $705.35.

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.