Parker-Hannifin Co. (NYSE:PH) Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 8.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 635 shares of the industrial products company’s stock after selling 58 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $404,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PH. Stratos Wealth Partners LTD. grew its holdings in shares of Parker-Hannifin by 10.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 19,540 shares of the industrial products company’s stock worth $12,428,000 after buying an additional 1,865 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Parker-Hannifin by 1.5% in the 4th quarter. Retirement Systems of Alabama now owns 84,195 shares of the industrial products company’s stock valued at $53,551,000 after purchasing an additional 1,284 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Parker-Hannifin by 5.9% in the fourth quarter. Mather Group LLC. now owns 2,738 shares of the industrial products company’s stock valued at $1,741,000 after purchasing an additional 152 shares during the period. Longboard Asset Management LP purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $247,000. Finally, Calamos Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 2.7% during the fourth quarter. Calamos Wealth Management LLC now owns 835 shares of the industrial products company’s stock worth $531,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $683.62 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock’s 50 day moving average price is $665.96 and its 200 day moving average price is $633.41. The firm has a market cap of $88.00 billion, a P/E ratio of 28.30, a PEG ratio of 2.90 and a beta of 1.45. 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 quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PH shares. Citigroup assumed coverage on shares of Parker-Hannifin in a research note on Friday. They issued a “buy” rating and a $795.00 price objective on the stock. Truist Financial raised their price objective 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. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, KeyCorp upped 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. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

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.