Stanley Laman Group Ltd. cut its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,504 shares of the industrial products company's stock after selling 1,800 shares during the quarter. Parker-Hannifin comprises about 0.8% of Stanley Laman Group Ltd.'s investment portfolio, making the stock its 22nd largest position. Stanley Laman Group Ltd.'s holdings in Parker-Hannifin were worth $6,045,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in PH. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the third quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 82.44% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on the company. Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Truist Financial increased their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Wolfe Research upgraded Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $729.18.
Get Our Latest Report on Parker-Hannifin
Parker-Hannifin Stock Performance
NYSE PH traded up $6.31 on Monday, hitting $700.13. The stock had a trading volume of 1,034,344 shares, compared to its average volume of 650,936. The company's 50-day moving average is $664.47 and its two-hundred day moving average is $640.39. The stock has a market cap of $90.12 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 2.84 and a beta of 1.45. 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 one year low of $492.71 and a one year high of $718.44.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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 expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Parker-Hannifin Profile
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Free Report)
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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