M&T Bank Corp Has $30.52 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

M&T Bank Corp decreased its position in Parker-Hannifin Co. (NYSE:PH) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 47,985 shares of the industrial products company’s stock after selling 1,888 shares during the period. M&T Bank Corp’s holdings in Parker-Hannifin were worth $30,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its holdings 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 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 in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.6 %

Shares of PH opened at $640.86 on Thursday. The firm has a market capitalization of $82.49 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business’s fifty day moving average price is $665.45 and its two-hundred day moving average price is $650.27. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th. Stifel Nicolaus increased their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group increased their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $739.06.

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.