Bryn Mawr Capital Management LLC Trims Stock Position in Parker-Hannifin Co. (NYSE:PH)

Bryn Mawr Capital Management LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,688 shares of the industrial products company’s stock after selling 46 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Parker-Hannifin were worth $3,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PH. Prestige Wealth Management Group LLC boosted its stake in 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 valued at $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the fourth quarter worth $35,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $40,000. Hager Investment Management Services LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at about $44,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $47,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays cut their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. 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. Finally, Argus boosted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $739.06.

Parker-Hannifin Stock Down 0.3 %

Shares of NYSE PH opened at $657.27 on Wednesday. The company has a 50 day simple moving average of $665.08 and a 200 day simple moving average of $647.76. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The firm has a market cap of $84.60 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. On average, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. 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.