Wellington Management Group LLP Cuts Holdings in Parker-Hannifin Co. (NYSE:PH)

Wellington Management Group LLP reduced its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,800,677 shares of the industrial products company's stock after selling 177,172 shares during the quarter. Wellington Management Group LLP owned approximately 1.40% of Parker-Hannifin worth $1,145,285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $30,000. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded down $74.40 during midday trading on Thursday, reaching $554.58. 1,254,461 shares of the company were exchanged, compared to its average volume of 681,122. The stock has a market cap of $71.39 billion, a P/E ratio of 23.02, a PEG 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 has a fifty day simple moving average of $654.89 and a 200 day simple moving average of $655.17. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

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Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results 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, research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.

Analyst Upgrades and Downgrades

Several research firms have commented on PH. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Barclays decreased their price target on Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Stifel Nicolaus raised their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Finally, KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $736.65.

Parker-Hannifin Company Profile

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.