Thrivent Financial for Lutherans Sells 2,845 Shares of Parker-Hannifin Co. (NYSE:PH)

Thrivent Financial for Lutherans lowered its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,042 shares of the industrial products company's stock after selling 2,845 shares during the period. Thrivent Financial for Lutherans' holdings in Parker-Hannifin were worth $23,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PH. Global Retirement Partners LLC lifted its holdings in shares of Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after acquiring an additional 15 shares during the last quarter. FFT Wealth Management LLC boosted its position in Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after buying an additional 15 shares during the period. GenTrust LLC increased its holdings in shares of Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after buying an additional 15 shares during the period. Grove Bank & Trust increased its stake in Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock worth $95,000 after purchasing an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its position in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock valued at $1,723,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

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Analyst Ratings Changes

PH has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective on the stock. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $736.65.

Parker-Hannifin Stock Up 1.4 %

Shares of PH stock traded up $8.83 during trading hours on Tuesday, hitting $651.41. 903,371 shares of the company's stock traded hands, compared to its average volume of 642,722. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock's fifty day simple moving average is $660.71 and its two-hundred day simple moving average is $653.67. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The stock has a market cap of $83.85 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50.

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, 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%. On average, analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin's dividend payout ratio is currently 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.