Parker-Hannifin Co. (NYSE:PH) Position Reduced by Aire Advisors LLC

Aire Advisors LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 9.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 357 shares of the industrial products company’s stock after selling 36 shares during the period. Aire Advisors LLC’s holdings in Parker-Hannifin were worth $227,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC raised its holdings in shares of Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after acquiring an additional 1,139,265 shares during the period. State Street Corp boosted its position in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares during the period. Wellington Management Group LLP grew its holdings 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 buying an additional 564,365 shares in the last quarter. World Investment Advisors LLC acquired a new position in Parker-Hannifin during the third quarter valued at $226,570,000. Finally, Assenagon Asset Management S.A. lifted its stake in Parker-Hannifin by 176.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock worth $278,661,000 after acquiring an additional 279,480 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 3.4 %

Shares of PH stock opened at $643.21 on Tuesday. The business’s fifty day moving average is $660.71 and its 200 day moving average is $653.67. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a market capitalization of $82.79 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last released 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 return on equity of 27.34% and a net margin of 15.87%. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.01%. Parker-Hannifin’s payout ratio is 26.99%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research reports. Wells Fargo & Company lifted their target price 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. Barclays reduced their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup began coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Finally, Truist Financial raised 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. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin 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.