Great Lakes Retirement Inc. Sells 43 Shares of Parker-Hannifin Co. (NYSE:PH)

Great Lakes Retirement Inc. decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,140 shares of the industrial products company’s stock after selling 43 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Parker-Hannifin were worth $3,269,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew 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 period. Bank of New Hampshire bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth approximately $39,000. Finally, Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at $44,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on PH shares. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. Argus raised their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $729.18.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $680.72 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $665.16 and a two-hundred day simple moving average of $636.60. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44. The firm has a market cap of $87.62 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) 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.