Schroder Investment Management Group Reduces Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Schroder Investment Management Group lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 811,910 shares of the industrial products company’s stock after selling 4,909 shares during the period. Schroder Investment Management Group owned approximately 0.63% of Parker-Hannifin worth $516,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Strategy Asset Managers LLC boosted its stake in shares of Parker-Hannifin by 6.6% in the fourth quarter. Strategy Asset Managers LLC now owns 599 shares of the industrial products company’s stock worth $381,000 after buying an additional 37 shares during the last quarter. Allstate Corp purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $2,420,000. Brown Brothers Harriman & Co. grew its stake in shares of Parker-Hannifin by 10.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,646 shares of the industrial products company’s stock worth $1,047,000 after purchasing an additional 155 shares during the period. Level Four Advisory Services LLC grew its stake in shares of Parker-Hannifin by 6.2% during the 4th quarter. Level Four Advisory Services LLC now owns 1,086 shares of the industrial products company’s stock worth $691,000 after purchasing an additional 63 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Parker-Hannifin by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,349 shares of the industrial products company’s stock valued at $2,766,000 after purchasing an additional 51 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 4.1 %

Shares of Parker-Hannifin stock opened at $600.78 on Friday. 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. The stock has a market cap of $77.33 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. The stock’s 50 day simple moving average is $658.39 and its 200-day simple moving average is $654.58.

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, beating 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%. Analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PH shares. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. KeyCorp boosted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Truist Financial upped their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

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.