Parker-Hannifin Co. (NYSE:PH) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 212,140 shares of the industrial products company's stock after selling 14,105 shares during the period. Parker-Hannifin comprises 1.2% of Great Lakes Advisors LLC's investment portfolio, making the stock its 16th biggest holding. Great Lakes Advisors LLC owned about 0.16% of Parker-Hannifin worth $134,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC boosted its holdings in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after buying an additional 21,521 shares in the last quarter. Columbus Macro LLC boosted its holdings in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock valued at $6,838,000 after buying an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. boosted its holdings in shares of Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after buying an additional 25,605 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. UBS Group lowered their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. KeyCorp upped their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $736.65.

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Parker-Hannifin Stock Performance

NYSE:PH opened at $612.51 on Wednesday. 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 fifty-two week low of $492.71 and a fifty-two week high of $718.44. The stock has a market cap of $78.84 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm's fifty day simple moving average is $663.82 and its 200-day simple moving average is $651.68.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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 net margin of 15.87% and a return on equity of 27.34%. Analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.06%. Parker-Hannifin's dividend payout ratio 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.

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