Lowe Brockenbrough & Co. Inc. Sells 102 Shares of Parker-Hannifin Co. (NYSE:PH)

Lowe Brockenbrough & Co. Inc. trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,800 shares of the industrial products company’s stock after selling 102 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Parker-Hannifin were worth $4,961,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Holderness Investments Co. boosted its stake in shares of Parker-Hannifin by 13.8% during the fourth quarter. Holderness Investments Co. now owns 931 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 113 shares in the last quarter. HUB Investment Partners LLC boosted its position in Parker-Hannifin by 15.7% during the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after buying an additional 1,057 shares during the period. Whittier Trust Co. grew its holdings in Parker-Hannifin by 13.8% during the 4th quarter. Whittier Trust Co. now owns 3,226 shares of the industrial products company’s stock worth $2,052,000 after acquiring an additional 392 shares during the last quarter. Magnetar Financial LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $5,584,000. Finally, TAP Consulting LLC raised its stake in shares of Parker-Hannifin by 1.5% during the fourth quarter. TAP Consulting LLC now owns 3,973 shares of the industrial products company’s stock valued at $2,527,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PH. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday. Evercore ISI increased their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their target price 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. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Down 0.9 %

PH stock opened at $624.61 on Friday. 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 Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The stock’s 50 day simple moving average is $660.75 and its 200 day simple moving average is $651.97. The company has a market cap of $80.40 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

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 analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued 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 dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio is presently 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.