First National Trust Co Sells 155 Shares of Parker-Hannifin Co. (NYSE:PH)

First National Trust Co cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,960 shares of the industrial products company’s stock after selling 155 shares during the period. First National Trust Co’s holdings in Parker-Hannifin were worth $1,883,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PH. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC increased 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 purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $40,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $44,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of several research analyst reports. Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Up 2.8 %

Shares of NYSE PH opened at $608.17 on Friday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The business has a 50-day simple moving average of $662.02 and a two-hundred day simple moving average of $651.12. 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 has a market cap of $78.28 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.