Shakespeare Wealth Management LLC Sells 102 Shares of Parker-Hannifin Co. (NYSE:PH)

Shakespeare Wealth Management LLC reduced its position in Parker-Hannifin Co. (NYSE:PH) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,168 shares of the industrial products company’s stock after selling 102 shares during the quarter. Shakespeare Wealth Management LLC’s holdings in Parker-Hannifin were worth $743,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PH. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $30,000. 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. Finally, Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PH. Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. KeyCorp increased their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup started 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 for the company. Finally, Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Down 7.1 %

Shares of Parker-Hannifin stock opened at $517.00 on Monday. The company’s fifty day simple moving average is $649.18 and its two-hundred day simple moving average is $654.59. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. 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 company has a market cap of $66.55 billion, a P/E ratio of 21.40, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.26%. The ex-dividend date was 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.