HighTower Advisors LLC Sells 1,277 Shares of Parker-Hannifin Co. (NYSE:PH)

HighTower Advisors LLC decreased its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,083 shares of the industrial products company's stock after selling 1,277 shares during the period. HighTower Advisors LLC owned approximately 0.07% of Parker-Hannifin worth $60,476,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PH. AGF Management Ltd. boosted its stake in Parker-Hannifin by 2.7% during the fourth quarter. AGF Management Ltd. now owns 3,283 shares of the industrial products company's stock worth $2,088,000 after acquiring an additional 85 shares in the last quarter. Inspire Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $747,000. Citizens Financial Group Inc. RI boosted its holdings in Parker-Hannifin by 7.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 29,788 shares of the industrial products company's stock worth $18,946,000 after acquiring an additional 2,144 shares in the last quarter. Vista Investment Partners II LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $3,669,000. Finally, Independent Advisor Alliance increased its holdings in shares of Parker-Hannifin by 2.5% during the fourth quarter. Independent Advisor Alliance now owns 18,081 shares of the industrial products company's stock valued at $11,500,000 after acquiring an additional 440 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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Parker-Hannifin Price Performance

PH stock traded up $14.21 during midday trading on Monday, reaching $622.09. The company had a trading volume of 824,231 shares, compared to its average volume of 637,420. The firm has a 50-day moving average price of $662.02 and a 200-day moving average price of $651.99. The company has a market capitalization of $80.08 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year 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.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PH. Truist Financial lifted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, KeyCorp boosted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $736.65.

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.