Vontobel Holding Ltd. lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,559 shares of the industrial products company's stock after selling 3,078 shares during the period. Vontobel Holding Ltd.'s holdings in Parker-Hannifin were worth $6,080,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $39,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 82.44% of the company's stock.
Analyst Upgrades and Downgrades
PH has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Truist Financial boosted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Robert W. Baird boosted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $739.06.
Read Our Latest Stock Analysis on Parker-Hannifin
Parker-Hannifin Stock Up 0.9 %
NYSE:PH traded up $6.02 during mid-day trading on Wednesday, hitting $701.48. The stock had a trading volume of 642,063 shares, compared to its average volume of 655,272. The stock has a 50-day simple moving average of $665.08 and a two-hundred day simple moving average of $642.79. The company has a market capitalization of $90.30 billion, a PE ratio of 29.03, a PEG ratio of 2.87 and a beta of 1.45. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. 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 (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.
Parker-Hannifin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin's dividend payout ratio is currently 26.99%.
Parker-Hannifin Company Profile
(
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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