Marble Harbor Investment Counsel LLC Reduces Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Marble Harbor Investment Counsel LLC lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,372 shares of the industrial products company’s stock after selling 475 shares during the quarter. Parker-Hannifin comprises about 2.1% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 12th biggest holding. Marble Harbor Investment Counsel LLC’s holdings in Parker-Hannifin were worth $18,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its holdings in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $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. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PH shares. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI boosted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. TD Cowen increased their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Truist Financial boosted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Stock Up 0.7 %

Shares of NYSE PH opened at $635.57 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $664.88 and a 200 day moving average price of $650.47. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The stock has a market capitalization of $81.81 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth 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 EPS for the quarter, topping 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%. Equities research analysts anticipate 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, February 7th. 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.