Parker-Hannifin Co. (NYSE:PH) Stake Reduced by Schroder Investment Management Group

Schroder Investment Management Group reduced its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 811,910 shares of the industrial products company's stock after selling 4,909 shares during the quarter. Schroder Investment Management Group owned about 0.63% of Parker-Hannifin worth $516,399,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PH. Franklin Resources Inc. grew its stake in shares of Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC raised its position 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 worth $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC lifted its stake 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 worth $6,838,000 after acquiring an additional 8,914 shares during the period. Finally, Congress Asset Management Co. boosted its holdings in shares of Parker-Hannifin by 15.5% in 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 acquiring an additional 25,605 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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Parker-Hannifin Stock Down 9.8 %

NYSE:PH traded down $61.38 during mid-day trading on Thursday, reaching $567.60. The stock had a trading volume of 843,985 shares, compared to its average volume of 679,243. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $73.06 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The stock's 50 day simple moving average is $654.89 and its two-hundred day simple moving average is $655.17.

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, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on PH. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. 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 research report on Thursday, December 19th. 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 research report on Friday, January 31st. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price 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.