Parker-Hannifin Co. (NYSE:PH) Stock Position Lessened by Haverford Trust Co

Haverford Trust Co reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 770 shares of the industrial products company’s stock after selling 76 shares during the quarter. Haverford Trust Co’s holdings in Parker-Hannifin were worth $490,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PH. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $30,000. Prestige Wealth Management Group LLC boosted its stake in 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 valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC bought a new stake in Parker-Hannifin in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.4 %

Parker-Hannifin stock opened at $651.41 on Wednesday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. 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 firm has a market cap of $83.85 billion, a PE ratio of 26.96, a P/E/G ratio of 2.85 and a beta of 1.50. The firm’s 50 day moving average price is $660.80 and its two-hundred day moving average price is $654.24.

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

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s payout ratio is 26.99%.

Analyst Ratings Changes

Several research firms have recently weighed in on PH. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Truist Financial lifted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Barclays decreased their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, 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. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $736.65.

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.