Lbp Am Sa Sells 14,600 Shares of Parker-Hannifin Co. (NYSE:PH)

Lbp Am Sa cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 84.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,731 shares of the industrial products company’s stock after selling 14,600 shares during the period. Lbp Am Sa’s holdings in Parker-Hannifin were worth $1,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PH. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of 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 worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $44,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial increased 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. Jefferies Financial Group increased their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup assumed coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. KeyCorp increased their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $608.17 on Friday. The firm has a market cap of $78.28 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm’s fifty day moving average is $662.02 and its 200-day moving average is $651.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. 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 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 net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

About Parker-Hannifin

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.