Machina Capital S.A.S. Sells 2,044 Shares of Parker-Hannifin Co. (NYSE:PH)

Machina Capital S.A.S. cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 68.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 932 shares of the industrial products company’s stock after selling 2,044 shares during the period. Machina Capital S.A.S.’s holdings in Parker-Hannifin were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PH. Portside Wealth Group LLC lifted its holdings in shares of Parker-Hannifin by 4.0% in the third quarter. Portside Wealth Group LLC now owns 599 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 23 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Parker-Hannifin in the third quarter valued at about $50,000. CWA Asset Management Group LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at about $220,000. Assetmark Inc. raised its stake in Parker-Hannifin by 4.0% in the third quarter. Assetmark Inc. now owns 21,458 shares of the industrial products company’s stock valued at $13,558,000 after buying an additional 816 shares during the period. Finally, Bridges Investment Management Inc. raised its stake in Parker-Hannifin by 3.8% in the third quarter. Bridges Investment Management Inc. now owns 18,220 shares of the industrial products company’s stock valued at $11,512,000 after buying an additional 665 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

NYSE:PH opened at $635.57 on Friday. The business’s 50-day moving average price is $664.88 and its two-hundred day moving average price is $650.95. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The stock has a market cap of $81.81 billion, a P/E ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.50. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

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, beating 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%. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analyst Ratings Changes

PH has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays reduced their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. KeyCorp increased 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, TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

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.