Parker-Hannifin Co. (NYSE:PH) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,376 shares of the industrial products company’s stock after selling 39 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Parker-Hannifin were worth $875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in PH. State Street Corp grew its stake in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $226,570,000. Mizuho Securities USA LLC grew its stake in shares of Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Parker-Hannifin by 176.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock valued at $278,661,000 after purchasing an additional 279,480 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PH shares. Barclays lowered their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Up 0.5 %

PH opened at $660.70 on Thursday. The business’s fifty day moving average is $665.42 and its two-hundred day moving average is $647.85. 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 company has a market cap of $85.05 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal 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 issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.99%. Parker-Hannifin’s dividend payout ratio (DPR) is 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.