Renaissance Technologies LLC Sells 33,393 Shares of Parker-Hannifin Co. (NYSE:PH)

Renaissance Technologies LLC lowered its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 46.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,850 shares of the industrial products company's stock after selling 33,393 shares during the quarter. Renaissance Technologies LLC's holdings in Parker-Hannifin were worth $24,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PH. Franklin Resources Inc. boosted its position in shares of Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after purchasing an additional 181,859 shares during the period. Howard Capital Management Group LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $23,390,000. SG Americas Securities LLC raised its stake in Parker-Hannifin by 752.5% during 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 purchasing an additional 21,521 shares during the period. Columbus Macro LLC boosted its stake in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after purchasing an additional 8,914 shares during the period. Finally, Congress Asset Management Co. raised its position in shares of Parker-Hannifin by 15.5% during the fourth 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 during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

PH has been the subject of several research analyst reports. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Stifel Nicolaus decreased their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research report on Monday. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays lowered their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $705.35.

Parker-Hannifin Trading Down 0.2 %

Parker-Hannifin stock traded down $0.96 during midday trading on Tuesday, reaching $568.65. The stock had a trading volume of 440,726 shares, compared to its average volume of 710,954. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The company has a fifty day moving average of $626.42 and a 200 day moving average of $650.00. The firm has a market cap of $73.20 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. 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 (NYSE:PH - Get Free Report) last issued its quarterly 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 return on equity of 27.34% and a net margin of 15.87%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's payout ratio is presently 26.99%.

About Parker-Hannifin

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.