Umpqua Bank Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Umpqua Bank decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,559 shares of the industrial products company’s stock after selling 131 shares during the quarter. Parker-Hannifin accounts for about 1.2% of Umpqua Bank’s holdings, making the stock its 14th biggest position. Umpqua Bank’s holdings in Parker-Hannifin were worth $3,597,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PH. Empowered Funds LLC boosted its stake in shares of Parker-Hannifin by 13.5% during the 3rd quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock worth $1,579,000 after acquiring an additional 298 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of Parker-Hannifin by 37.0% during the 3rd quarter. Prospera Financial Services Inc now owns 1,347 shares of the industrial products company’s stock worth $853,000 after purchasing an additional 364 shares during the last quarter. Cornerstone Advisors LLC raised its holdings in Parker-Hannifin by 5.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 4,200 shares of the industrial products company’s stock valued at $2,654,000 after acquiring an additional 200 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Parker-Hannifin by 3.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,771 shares of the industrial products company’s stock valued at $6,174,000 after acquiring an additional 309 shares during the last quarter. Finally, Landscape Capital Management L.L.C. raised its holdings in Parker-Hannifin by 25.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 2,543 shares of the industrial products company’s stock valued at $1,607,000 after acquiring an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several analyst reports. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Barclays lowered their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Truist Financial upped 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. Finally, Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $622.79 on Friday. The firm has a market cap of $80.17 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm’s 50-day simple moving average is $660.60 and its 200-day simple moving average is $652.13. 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 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued 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 net margin of 15.87% and a return on equity of 27.34%. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.05%. 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.