Zacks Investment Management Has $129.33 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Zacks Investment Management trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,335 shares of the industrial products company’s stock after selling 21,342 shares during the period. Parker-Hannifin makes up approximately 1.2% of Zacks Investment Management’s holdings, making the stock its 18th biggest holding. Zacks Investment Management owned 0.16% of Parker-Hannifin worth $129,327,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Global Retirement Partners LLC grew its holdings in shares of Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares in the last quarter. FFT Wealth Management LLC increased its stake in Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after acquiring an additional 15 shares during the last quarter. GenTrust LLC raised its position in Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after buying an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its stake in shares of Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $568.65 on Wednesday. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock’s 50 day moving average is $626.42 and its 200 day moving average is $650.00. The firm has a market cap of $73.20 billion, a P/E ratio of 23.54, a P/E/G ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results 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 net margin of 15.87% and a return on equity of 27.34%. As a group, research analysts expect 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. Stockholders of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.15%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PH. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Truist Financial lowered their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus reduced their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a research report on Monday. Citigroup decreased their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday. Finally, Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $705.35.

Parker-Hannifin Company 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.