iA Global Asset Management Inc. Sells 4,642 Shares of Parker-Hannifin Co. (NYSE:PH)

iA Global Asset Management Inc. reduced its holdings in Parker-Hannifin Co. (NYSE:PH) by 23.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,000 shares of the industrial products company’s stock after selling 4,642 shares during the quarter. iA Global Asset Management Inc.’s holdings in Parker-Hannifin were worth $9,540,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PH. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% during 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 in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $44,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 2.2 %

Parker-Hannifin stock opened at $629.93 on Thursday. The stock has a market cap of $81.08 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The stock has a fifty day moving average of $661.07 and a 200 day moving average of $652.16.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PH shares. Barclays dropped their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group boosted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. KeyCorp boosted their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Truist Financial boosted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $736.65.

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.