Parker-Hannifin Co. (NYSE:PH) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,722 shares of the industrial products company’s stock after selling 1,280 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Parker-Hannifin were worth $3,843,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PH. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $30,000. Prestige Wealth Management Group LLC lifted its position in 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 valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the fourth quarter valued at $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $600.78 on Monday. The business’s 50 day moving average price is $658.39 and its 200-day moving average price is $655.07. 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 current ratio of 1.06 and a quick ratio of 0.59. The firm has a market capitalization of $77.33 billion, a PE ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50.

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, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PH shares. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI boosted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Barclays decreased their target price 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. Finally, Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $736.65.

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.