Parker-Hannifin Co. (NYSE:PH) Shares Sold by Tyler Stone Wealth Management

Tyler Stone Wealth Management lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 27,161 shares of the industrial products company’s stock after selling 944 shares during the period. Parker-Hannifin makes up 3.1% of Tyler Stone Wealth Management’s portfolio, making the stock its 5th largest holding. Tyler Stone Wealth Management’s holdings in Parker-Hannifin were worth $17,275,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PH. Vanguard Group Inc. raised its holdings in Parker-Hannifin by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after acquiring an additional 111,406 shares in the last quarter. State Street Corp raised its stake in 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 valued at $3,918,696,000 after purchasing an additional 753,143 shares in the last quarter. FMR LLC raised its position in shares of Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after buying an additional 272,531 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after acquiring an additional 29,408 shares during the period. Finally, Wellington Management Group LLP boosted its position 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 worth $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $651.41 on Wednesday. The company has a market cap of $83.85 billion, a P/E ratio of 26.96, a PEG ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $660.80 and a two-hundred day moving average price of $654.24. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders 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 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Ratings Changes

Several analysts recently weighed in on PH shares. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI raised their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Barclays cut their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, KeyCorp increased their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.