Colonial Trust Advisors Cuts Position in Parker-Hannifin Co. (NYSE:PH)

Colonial Trust Advisors cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157 shares of the industrial products company’s stock after selling 32 shares during the period. Colonial Trust Advisors’ holdings in Parker-Hannifin were worth $100,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth about $30,000. Bank of New Hampshire bought a new stake in Parker-Hannifin in the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at about $40,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. KeyCorp decreased their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research note on Tuesday. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Truist Financial reduced their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $720.47.

Parker-Hannifin Trading Down 6.1 %

Shares of PH opened at $559.67 on Friday. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm has a market cap of $72.04 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.85 and a beta of 1.39. The firm has a 50 day moving average price of $633.78 and a 200-day moving average price of $651.30. 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 posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared 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 was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.16%. 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.