Parker-Hannifin Co. (NYSE:PH) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,825 shares of the industrial products company's stock after selling 608 shares during the period. Gabelli Funds LLC's holdings in Parker-Hannifin were worth $7,521,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $30,000. Bank of New Hampshire acquired a new position in Parker-Hannifin in the 4th quarter worth approximately $35,000. Finally, Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $40,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on PH. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report 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 research report on Tuesday, April 8th. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus decreased their price target on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $705.35.

Parker-Hannifin Price Performance

NYSE:PH traded up $1.76 during trading hours on Friday, hitting $561.21. 558,227 shares of the stock were exchanged, compared to its average volume of 713,205. The firm's fifty day moving average price is $619.17 and its 200 day moving average price is $648.56. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The company has a market cap of $72.24 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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 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 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.

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.