Beaumont Asset Management L.L.C. Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Beaumont Asset Management L.L.C. decreased its position in Parker-Hannifin Co. (NYSE:PH) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 812 shares of the industrial products company’s stock after selling 29 shares during the period. Beaumont Asset Management L.L.C.’s holdings in Parker-Hannifin were worth $516,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PH. Diversified Trust Co raised its stake in Parker-Hannifin by 11.4% in the 3rd quarter. Diversified Trust Co now owns 978 shares of the industrial products company’s stock valued at $618,000 after acquiring an additional 100 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of Parker-Hannifin by 28.8% in the third quarter. Atomi Financial Group Inc. now owns 734 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 164 shares during the period. Brookstone Capital Management grew its position in shares of Parker-Hannifin by 16.5% in the third quarter. Brookstone Capital Management now owns 5,294 shares of the industrial products company’s stock valued at $3,345,000 after purchasing an additional 750 shares in the last quarter. CWM LLC raised its stake in shares of Parker-Hannifin by 8.6% during the 3rd quarter. CWM LLC now owns 4,363 shares of the industrial products company’s stock valued at $2,757,000 after purchasing an additional 346 shares during the period. Finally, Wedmont Private Capital lifted its holdings in Parker-Hannifin by 4.9% during the 3rd quarter. Wedmont Private Capital now owns 2,286 shares of the industrial products company’s stock worth $1,440,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PH. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group lowered their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Truist Financial boosted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $729.18.

Parker-Hannifin Trading Down 1.2 %

Parker-Hannifin stock opened at $683.62 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The firm has a 50 day moving average of $665.96 and a 200 day moving average of $633.41. The firm has a market capitalization of $88.00 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted 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 net margin of 15.87% and a return on equity of 27.34%. As a group, research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.95%. Parker-Hannifin’s payout ratio is currently 26.99%.

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.