First Trust Advisors LP Has $24.86 Million Position in Parker-Hannifin Co. (NYSE:PH)

First Trust Advisors LP lessened its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 45.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,078 shares of the industrial products company's stock after selling 32,296 shares during the quarter. First Trust Advisors LP's holdings in Parker-Hannifin were worth $24,855,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Vanguard Group Inc. grew its stake in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after purchasing an additional 111,406 shares in the last quarter. Geode Capital Management LLC grew its stake in Parker-Hannifin by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after purchasing an additional 99,261 shares in the last quarter. Invesco Ltd. grew its stake in Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after purchasing an additional 198,292 shares in the last quarter. Norges Bank bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $1,106,132,000. Finally, Proficio Capital Partners LLC grew its stake in Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Price Performance

NYSE:PH traded up $6.48 during trading hours on Tuesday, hitting $603.57. The company's stock had a trading volume of 699,565 shares, compared to its average volume of 715,451. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a fifty day simple moving average of $605.53 and a 200-day simple moving average of $646.60. The company has a market capitalization of $77.69 billion, a P/E ratio of 24.98, a PEG ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted 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 net margin of 15.87% and a return on equity of 27.34%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $1.80 dividend. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.80%.

Analyst Ratings Changes

A number of research analysts have weighed in on PH shares. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus reduced their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Truist Financial reduced their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays reduced their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $705.35.

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.