Meeder Advisory Services Inc. Trims Stake in Parker-Hannifin Co. (NYSE:PH)

Meeder Advisory Services Inc. lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,920 shares of the industrial products company’s stock after selling 21 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Parker-Hannifin were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PH. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $30,000. Prestige Wealth Management Group LLC increased its stake in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $40,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PH shares. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Jefferies Financial Group increased their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup started coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective for the company. Finally, StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Trading Up 0.3 %

Shares of NYSE PH opened at $609.53 on Wednesday. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business’s 50 day moving average is $655.77 and its two-hundred day moving average is $655.35. The stock has a market capitalization of $78.46 billion, a P/E ratio of 25.23, a PEG ratio of 2.85 and a beta of 1.50.

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 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, research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend 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.