Kanawha Capital Management LLC Decreases Holdings in Parker-Hannifin Co. (NYSE:PH)

Kanawha Capital Management LLC lowered its position in Parker-Hannifin Co. (NYSE:PH) by 0.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,629 shares of the industrial products company’s stock after selling 77 shares during the quarter. Parker-Hannifin comprises 1.3% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Kanawha Capital Management LLC’s holdings in Parker-Hannifin were worth $16,301,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. West Branch Capital LLC bought a new position in Parker-Hannifin in the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in shares of 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 acquiring an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $39,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $44,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Mizuho raised their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. 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. Finally, Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $729.18.

Parker-Hannifin Trading Up 2.3 %

Parker-Hannifin stock opened at $693.89 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $664.41 and its two-hundred day simple moving average is $637.78. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a market capitalization of $89.32 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

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

Parker-Hannifin Dividend Announcement

The firm 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Parker-Hannifin 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.