Argus Investors Counsel Inc. Trims Stake in Parker-Hannifin Co. (NYSE:PH)

Argus Investors Counsel Inc. cut its stake in Parker-Hannifin Co. (NYSE:PH) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 801 shares of the industrial products company’s stock after selling 34 shares during the period. Argus Investors Counsel Inc.’s holdings in Parker-Hannifin were worth $509,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. West Branch Capital LLC purchased a new position in Parker-Hannifin during the 3rd quarter valued at about $25,000. Bangor Savings Bank lifted its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% in the 3rd 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 in the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the 3rd quarter valued at approximately $39,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Down 0.1 %

Shares of Parker-Hannifin stock opened at $688.68 on Thursday. The stock has a market capitalization of $88.65 billion, a PE ratio of 28.50, a P/E/G ratio of 2.90 and a beta of 1.45. 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 company’s fifty day simple moving average is $666.34 and its 200-day simple moving average is $632.61. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PH. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays decreased their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Robert W. Baird raised their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $725.06.

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.