Parker-Hannifin Co. (NYSE:PH) Stock Position Reduced by Boston Partners

Boston Partners reduced its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 580,054 shares of the industrial products company's stock after selling 5,788 shares during the quarter. Boston Partners owned approximately 0.45% of Parker-Hannifin worth $368,986,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC lifted its position in Parker-Hannifin by 13.5% in the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company's stock valued at $1,579,000 after purchasing an additional 298 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $306,000. Adero Partners LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $224,000. Claro Advisors LLC lifted its position in Parker-Hannifin by 62.5% in the 3rd quarter. Claro Advisors LLC now owns 746 shares of the industrial products company's stock valued at $471,000 after purchasing an additional 287 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Parker-Hannifin by 4.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company's stock valued at $25,201,000 after purchasing an additional 1,825 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PH shares. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Citigroup began coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a "buy" rating and a $795.00 price target on the stock. Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Truist Financial boosted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $736.65.

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Parker-Hannifin Trading Down 0.3 %

Shares of Parker-Hannifin stock traded down $1.93 during trading on Friday, hitting $622.79. The stock had a trading volume of 813,148 shares, compared to its average volume of 640,899. The stock has a 50 day simple moving average of $660.60 and a 200 day simple moving average of $652.13. The company has a market capitalization of $80.17 billion, a PE ratio of 25.78, a P/E/G ratio of 2.85 and a beta of 1.50. 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 Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

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

Parker-Hannifin Dividend Announcement

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

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.