New England Capital Financial Advisors LLC reduced its position in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48 shares of the industrial products company’s stock after selling 16 shares during the quarter. New England Capital Financial Advisors LLC’s holdings in Parker-Hannifin were worth $31,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% in 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 acquired a new stake in Parker-Hannifin in the 4th quarter worth about $35,000. Kestra Investment Management LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $40,000. Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $44,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $47,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target on the stock. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Finally, Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $739.06.
Parker-Hannifin Stock Down 4.1 %
Shares of NYSE PH opened at $667.06 on Friday. 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 business’s 50 day moving average is $665.56 and its two-hundred day moving average is $645.57. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The firm has a market cap of $85.86 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.85 and a beta of 1.45.
Parker-Hannifin (NYSE:PH – Get Free Report) last issued its quarterly 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%. Research 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 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 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.
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.
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