Dana Investment Advisors Inc. Lowers Stake in Parker-Hannifin Co. (NYSE:PH)

Dana Investment Advisors Inc. lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,823 shares of the industrial products company’s stock after selling 383 shares during the period. Dana Investment Advisors Inc.’s holdings in Parker-Hannifin were worth $20,240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PH. Proficio Capital Partners LLC raised its position in shares of Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. State Street Corp grew its holdings in shares of 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 purchasing an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the 3rd 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 during the last quarter. World Investment Advisors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at $226,570,000. Finally, Mizuho Securities USA LLC grew its holdings in shares of Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Evercore ISI increased their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Truist Financial increased their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, 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. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Trading Up 2.6 %

Shares of PH opened at $640.86 on Thursday. The firm’s 50-day moving average price is $665.45 and its 200-day moving average price is $650.27. The firm has a market capitalization of $82.49 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 2.85 and a beta of 1.45. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) 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.