Parker-Hannifin Co. (NYSE:PH) Stock Holdings Lowered by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda reduced its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 33.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,250 shares of the industrial products company's stock after selling 4,750 shares during the quarter. Parker-Hannifin accounts for 2.1% of Wealth High Governance Capital Ltda's holdings, making the stock its 23rd biggest position. Wealth High Governance Capital Ltda's holdings in Parker-Hannifin were worth $5,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC purchased a new position in Parker-Hannifin during the 3rd quarter worth approximately $220,000. Mesirow Financial Investment Management Inc. acquired a new position in Parker-Hannifin during the third quarter valued at $436,000. Axxcess Wealth Management LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth about $441,000. Ashton Thomas Securities LLC boosted its position in Parker-Hannifin by 5.8% during the 3rd quarter. Ashton Thomas Securities LLC now owns 724 shares of the industrial products company's stock worth $457,000 after acquiring an additional 40 shares during the period. Finally, Catalytic Wealth RIA LLC grew its stake in Parker-Hannifin by 2.1% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 1,034 shares of the industrial products company's stock valued at $653,000 after acquiring an additional 21 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 1.0 %

Shares of Parker-Hannifin stock opened at $612.51 on Wednesday. The company's fifty day simple moving average is $663.82 and its 200-day simple moving average is $651.68. The company has a market cap of $78.84 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 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.

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Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current 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 paid a $1.63 dividend. The ex-dividend date 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 presently 26.99%.

Wall Street Analyst Weigh In

Several research firms recently commented on PH. Evercore ISI raised their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. UBS Group dropped their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, February 8th. Finally, Jefferies Financial Group raised their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $736.65.

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.

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