Parker-Hannifin Co. (NYSE:PH) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,224 shares of the industrial products company’s stock after selling 135 shares during the quarter. Mattern Capital Management LLC’s holdings in Parker-Hannifin were worth $7,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC raised its stake in 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 worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter worth $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $40,000. Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $44,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $47,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PH shares. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial lifted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Finally, 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 objective on the stock. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Trading Down 0.8 %

Shares of Parker-Hannifin stock opened at $695.82 on Friday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. 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 company’s 50-day simple moving average is $665.39 and its 200-day simple moving average is $643.20. The firm has a market cap of $89.57 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 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%. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued 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 of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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.