Summit Financial LLC Sells 140 Shares of Parker-Hannifin Co. (NYSE:PH)

Summit Financial LLC lowered its position in Parker-Hannifin Co. (NYSE:PH) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,457 shares of the industrial products company’s stock after selling 140 shares during the quarter. Summit Financial LLC’s holdings in Parker-Hannifin were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PH. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $30,000. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% during the 3rd 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 bought a new position in Parker-Hannifin during the 4th quarter worth approximately $35,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $40,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.1 %

Parker-Hannifin stock opened at $608.33 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $78.30 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.85 and a beta of 1.50. The firm has a 50 day moving average price of $657.14 and a 200-day moving average price of $655.22. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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 analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed 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 1.07%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PH shares. Barclays lowered 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. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Stifel Nicolaus raised 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. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Truist Financial lifted their price objective 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. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Company 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.