Evoke Wealth LLC Sells 556 Shares of Parker-Hannifin Co. (NYSE:PH)

Evoke Wealth LLC lessened its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 771 shares of the industrial products company's stock after selling 556 shares during the quarter. Evoke Wealth LLC's holdings in Parker-Hannifin were worth $491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Parker-Hannifin by 83.3% in the third 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 in the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at $44,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

PH traded down $1.93 during midday trading on Friday, reaching $622.79. The company had a trading volume of 813,148 shares, compared to its average volume of 641,889. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year 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. The company has a market cap of $80.17 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. The business has a 50-day moving average of $660.60 and a two-hundred day moving average of $652.66.

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Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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 net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a "buy" rating and a $795.00 price target for the company. UBS Group dropped their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday. Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.