Todd Asset Management LLC Sells 10,888 Shares of Parker-Hannifin Co. (NYSE:PH)

Todd Asset Management LLC trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,587 shares of the industrial products company’s stock after selling 10,888 shares during the period. Todd Asset Management LLC owned approximately 0.05% of Parker-Hannifin worth $42,987,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Kestra Investment Management LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $40,000. Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $44,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $47,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on PH. Argus upped their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Truist Financial upped their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup started coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price for the company. Robert W. Baird upped their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays lowered their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $658.64 on Tuesday. The company has a market capitalization of $84.78 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The business has a 50 day simple moving average of $665.25 and a 200-day simple moving average of $647.14. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

About Parker-Hannifin

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.