Mathes Company Inc. Sells 421 Shares of Parker-Hannifin Co. (NYSE:PH)

Mathes Company Inc. lowered its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,164 shares of the industrial products company's stock after selling 421 shares during the period. Parker-Hannifin makes up approximately 2.1% of Mathes Company Inc.'s holdings, making the stock its 13th biggest position. Mathes Company Inc.'s holdings in Parker-Hannifin were worth $5,829,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PH. Sanctuary Advisors LLC grew its stake in shares of Parker-Hannifin by 1.1% in the 4th quarter. Sanctuary Advisors LLC now owns 43,507 shares of the industrial products company's stock valued at $30,624,000 after purchasing an additional 477 shares during the period. J.W. Cole Advisors Inc. increased its position in shares of Parker-Hannifin by 2.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,447 shares of the industrial products company's stock valued at $1,557,000 after buying an additional 58 shares in the last quarter. L.M. Kohn & Company increased its position in shares of Parker-Hannifin by 1.9% in the 4th quarter. L.M. Kohn & Company now owns 2,103 shares of the industrial products company's stock valued at $1,338,000 after buying an additional 40 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter worth about $1,292,000. Finally, Allworth Financial LP boosted its stake in shares of Parker-Hannifin by 19.4% during the 4th quarter. Allworth Financial LP now owns 481 shares of the industrial products company's stock worth $325,000 after buying an additional 78 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a "buy" rating and a $795.00 target price on the stock. TD Cowen raised their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $739.06.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded down $5.73 during mid-day trading on Thursday, reaching $695.82. The company had a trading volume of 576,110 shares, compared to its average volume of 653,540. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. 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 company has a market cap of $89.57 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.85 and a beta of 1.45. The business has a fifty day simple moving average of $665.39 and a 200 day simple moving average of $643.20.

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 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%. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. 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.