Parker-Hannifin Co. (NYSE:PH) Shares Sold by Homestead Advisers Corp

Homestead Advisers Corp reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 15.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 226,880 shares of the industrial products company’s stock after selling 41,000 shares during the quarter. Parker-Hannifin accounts for approximately 3.5% of Homestead Advisers Corp’s investment portfolio, making the stock its 3rd largest position. Homestead Advisers Corp’s holdings in Parker-Hannifin were worth $144,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in shares of Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $23,390,000. SG Americas Securities LLC boosted its stake in shares of Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after acquiring an additional 21,521 shares in the last quarter. Columbus Macro LLC grew its holdings in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after purchasing an additional 25,605 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of analyst reports. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Down 2.2 %

PH stock opened at $636.82 on Thursday. The firm has a market cap of $81.97 billion, a PE ratio of 26.36, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a fifty day simple moving average of $660.41 and a 200 day simple moving average of $654.11. The company has a current ratio of 1.06, a quick ratio of 0.59 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 (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 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.