Tyche Wealth Partners LLC Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Tyche Wealth Partners LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 352 shares of the industrial products company’s stock after selling 22 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Parker-Hannifin were worth $224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after purchasing an additional 381,285 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $226,570,000. Finally, Mizuho Securities USA LLC grew its stake in shares of Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after buying an additional 353,393 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.4 %

PH stock opened at $691.65 on Friday. The company has a market capitalization of $89.03 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The business has a 50 day simple moving average of $666.12 and a two-hundred day simple moving average of $633.00.

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

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $725.06.

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.