Marietta Investment Partners LLC Lowers Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Marietta Investment Partners LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,681 shares of the industrial products company’s stock after selling 250 shares during the period. Marietta Investment Partners LLC’s holdings in Parker-Hannifin were worth $3,613,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC increased its holdings 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 buying an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp raised their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Finally, Citigroup started coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $622.79 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $80.17 billion, a P/E ratio of 25.78, a PEG ratio of 2.85 and a beta of 1.50. The stock’s 50 day moving average is $660.60 and its 200 day moving average is $652.13. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

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 return on equity of 27.34% and a net margin of 15.87%. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.05%. Parker-Hannifin’s dividend payout ratio (DPR) 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.