WBH Advisory Inc. Lowers Position in Parker-Hannifin Co. (NYSE:PH)

WBH Advisory Inc. cut its stake in Parker-Hannifin Co. (NYSE:PH) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,608 shares of the industrial products company’s stock after selling 65 shares during the period. WBH Advisory Inc.’s holdings in Parker-Hannifin were worth $1,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. J.W. Cole Advisors Inc. increased its stake in shares of Parker-Hannifin by 2.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 2,447 shares of the industrial products company’s stock valued at $1,557,000 after purchasing an additional 58 shares in the last quarter. L.M. Kohn & Company increased its stake in shares of Parker-Hannifin by 1.9% during the fourth quarter. L.M. Kohn & Company now owns 2,103 shares of the industrial products company’s stock valued at $1,338,000 after purchasing an additional 40 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,292,000. Allworth Financial LP increased its stake in shares of Parker-Hannifin by 19.4% during the fourth quarter. Allworth Financial LP now owns 481 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 78 shares in the last quarter. Finally, Everhart Financial Group Inc. increased its position in shares of Parker-Hannifin by 1.9% during the fourth quarter. Everhart Financial Group Inc. now owns 968 shares of the industrial products company’s stock valued at $616,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.9 %

Shares of Parker-Hannifin stock opened at $700.13 on Tuesday. The company’s fifty day simple moving average is $664.47 and its 200-day simple moving average is $640.39. The stock has a market capitalization of $90.12 billion, a PE ratio of 28.98, a P/E/G ratio of 2.84 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. 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 released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Citigroup assumed coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. UBS Group reduced their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Finally, Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $729.18.

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.