ExodusPoint Capital Management LP Decreases Stake in Parker-Hannifin Co. (NYSE:PH)

ExodusPoint Capital Management LP decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,986 shares of the industrial products company's stock after selling 2,672 shares during the quarter. ExodusPoint Capital Management LP's holdings in Parker-Hannifin were worth $3,171,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $30,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the 4th quarter worth about $35,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin during the 4th quarter valued at about $40,000. Institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. KeyCorp cut their price objective on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a research report on Tuesday. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $720.47.

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Parker-Hannifin Stock Up 0.8 %

Shares of Parker-Hannifin stock traded up $4.60 on Friday, reaching $564.78. The stock had a trading volume of 938,635 shares, compared to its average volume of 710,689. 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 stock has a market capitalization of $72.70 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a 50 day moving average price of $631.27 and a 200 day moving average price of $650.91. 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 released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.

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.