Parker-Hannifin Co. (NYSE:PH) Shares Sold by Rathbones Group PLC

Rathbones Group PLC cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 26.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,031 shares of the industrial products company’s stock after selling 1,084 shares during the period. Rathbones Group PLC’s holdings in Parker-Hannifin were worth $1,928,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares in the last quarter. Finally, Bank of New Hampshire bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.6 %

Shares of PH stock opened at $523.34 on Wednesday. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market cap of $67.36 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.85 and a beta of 1.39. The firm’s 50-day moving average is $640.89 and its 200-day moving average is $652.30.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.25%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

PH has been the topic of several recent research reports. UBS Group decreased their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report 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 report on Friday, January 31st. KeyCorp reduced their target price 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 increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Barclays decreased their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $723.41.

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.