Sentry Investment Management LLC Sells 296 Shares of Parker-Hannifin Co. (NYSE:PH)

Sentry Investment Management LLC lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,170 shares of the industrial products company’s stock after selling 296 shares during the quarter. Sentry Investment Management LLC’s holdings in Parker-Hannifin were worth $744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Prestige Wealth Management Group LLC lifted its position in 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 acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $40,000. Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth about $44,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target 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. Wells Fargo & Company lifted their price target 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. Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, February 8th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Price Performance

NYSE:PH opened at $658.64 on Tuesday. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a market cap of $84.78 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.85 and a beta of 1.45. The firm’s fifty day moving average price is $665.25 and its two-hundred day moving average price is $647.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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 expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Parker-Hannifin 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.