Legal & General Group Plc lowered its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 733,314 shares of the industrial products company's stock after selling 221,286 shares during the quarter. Legal & General Group Plc owned about 0.57% of Parker-Hannifin worth $466,410,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the fourth quarter valued at $30,000. Prestige Wealth Management Group LLC increased its stake in 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 valued at $35,000 after acquiring an additional 25 shares during the last quarter. Finally, Bank of New Hampshire purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 82.44% of the company's stock.
Wall Street Analysts Forecast Growth
PH has been the topic of several recent research reports. Citigroup assumed coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a "buy" rating and a $795.00 price objective on the stock. UBS Group reduced their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Truist Financial reduced their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $720.47.
Check Out Our Latest Stock Analysis on PH
Parker-Hannifin Trading Up 0.8 %
Shares of PH traded up $4.60 during mid-day trading on Friday, hitting $564.78. 938,635 shares of the company's stock traded hands, compared to its average volume of 711,680. The business's 50-day moving average price is $631.27 and its 200-day moving average price is $651.01. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The firm has a market capitalization of $72.70 billion, a P/E ratio of 23.38, a PEG ratio of 2.85 and a beta of 1.39. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.15%. Parker-Hannifin's payout ratio is 26.99%.
Parker-Hannifin Company Profile
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Free Report)
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.
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