Robertson Stephens Wealth Management LLC Decreases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Robertson Stephens Wealth Management LLC lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,140 shares of the industrial products company’s stock after selling 16 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Parker-Hannifin were worth $725,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Diversified Trust Co grew its stake in shares of Parker-Hannifin by 11.4% in the third quarter. Diversified Trust Co now owns 978 shares of the industrial products company’s stock worth $618,000 after purchasing an additional 100 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of Parker-Hannifin by 28.8% in the third quarter. Atomi Financial Group Inc. now owns 734 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 164 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Parker-Hannifin by 16.5% in the third quarter. Brookstone Capital Management now owns 5,294 shares of the industrial products company’s stock worth $3,345,000 after purchasing an additional 750 shares during the last quarter. CWM LLC grew its stake in shares of Parker-Hannifin by 8.6% in the third quarter. CWM LLC now owns 4,363 shares of the industrial products company’s stock worth $2,757,000 after purchasing an additional 346 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Parker-Hannifin by 4.9% in the third quarter. Wedmont Private Capital now owns 2,286 shares of the industrial products company’s stock worth $1,440,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of several recent analyst reports. Mizuho raised their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Performance

Shares of PH opened at $683.62 on Friday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The stock has a market cap of $88.00 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.90 and a beta of 1.45. The business’s 50 day moving average price is $665.96 and its 200-day moving average price is $633.41. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 0.95%. Parker-Hannifin’s payout ratio is currently 26.99%.

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.