Marks Group Wealth Management Inc lowered its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,972 shares of the industrial products company's stock after selling 816 shares during the period. Parker-Hannifin makes up approximately 0.9% of Marks Group Wealth Management Inc's portfolio, making the stock its 23rd biggest holding. Marks Group Wealth Management Inc's holdings in Parker-Hannifin were worth $9,523,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of 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 purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin during the third quarter worth $39,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin during the fourth quarter worth $44,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Trading Up 0.9 %
NYSE:PH traded up $6.31 on Friday, hitting $700.13. 1,034,344 shares of the stock were exchanged, compared to its average volume of 650,936. The stock has a market cap of $90.12 billion, a PE ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $664.47 and a 200-day moving average of $639.22. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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 analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Truist Financial upped their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Argus boosted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Barclays decreased their target price on Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $729.18.
View Our Latest Report on Parker-Hannifin
Parker-Hannifin Profile
(
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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