Private Trust Co. NA Cuts Stake in Parker-Hannifin Co. (NYSE:PH)

Private Trust Co. NA reduced its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,984 shares of the industrial products company’s stock after selling 232 shares during the period. Private Trust Co. NA’s holdings in Parker-Hannifin were worth $1,898,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased its position in shares of 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 purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $44,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PH. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price for the company. Evercore ISI increased their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group decreased 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 note on Friday, January 31st. Finally, Wolfe Research upgraded 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 report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Price Performance

PH opened at $655.12 on Friday. The company’s 50 day simple moving average is $665.73 and its 200 day simple moving average is $647.90. 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 1 year low of $492.71 and a 1 year high of $718.44. The stock has a market capitalization of $84.33 billion, a PE ratio of 27.12, a P/E/G ratio of 2.85 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is 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.