Parker-Hannifin Co. (NYSE:PH) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,580 shares of the industrial products company's stock after selling 764 shares during the period. Martingale Asset Management L P's holdings in Parker-Hannifin were worth $14,998,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PH. EP Wealth Advisors LLC boosted its holdings in Parker-Hannifin by 25.7% in the third quarter. EP Wealth Advisors LLC now owns 3,432 shares of the industrial products company's stock valued at $2,168,000 after purchasing an additional 701 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Parker-Hannifin by 7.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 37,800 shares of the industrial products company's stock worth $23,883,000 after buying an additional 2,495 shares during the last quarter. Geller Advisors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $222,000. Continuum Advisory LLC grew its position in shares of Parker-Hannifin by 2.9% in the 3rd quarter. Continuum Advisory LLC now owns 1,277 shares of the industrial products company's stock valued at $891,000 after buying an additional 36 shares during the last quarter. Finally, Brophy Wealth Management LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth $723,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PH. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Barclays dropped their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Truist Financial decreased their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $713.00.

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Parker-Hannifin Stock Performance

Shares of PH stock traded down $2.39 during trading hours on Monday, reaching $562.98. 192,266 shares of the company's stock were exchanged, compared to its average volume of 861,127. 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 Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a market cap of $72.47 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company's 50 day moving average is $631.27 and its two-hundred day moving average is $651.01.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.16%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.

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.