Parker-Hannifin Co. (NYSE:PH) Shares Sold by Keynote Financial Services LLC

Keynote Financial Services LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 457 shares of the industrial products company’s stock after selling 33 shares during the period. Keynote Financial Services LLC’s holdings in Parker-Hannifin were worth $291,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $25,000. Prestige Wealth Management Group LLC grew its holdings in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth $44,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Up 2.3 %

Shares of NYSE PH opened at $670.07 on Friday. The firm has a market cap of $86.25 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year 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 stock’s 50-day simple moving average is $666.19 and its 200-day simple moving average is $649.15.

Parker-Hannifin (NYSE:PH) last announced 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%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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.