Parker-Hannifin Co. (NYSE:PH) Stock Holdings Trimmed by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,742 shares of the industrial products company’s stock after selling 474 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Parker-Hannifin were worth $7,468,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $30,000. Prestige Wealth Management Group LLC raised its stake 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 worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $35,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the fourth quarter worth about $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price target 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 target price on the stock in a report on Thursday, December 12th. Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus increased their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

Shares of PH opened at $626.76 on Friday. The company has a market capitalization of $80.68 billion, a PE ratio of 25.94, a PEG ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company’s 50 day moving average price is $659.79 and its 200 day moving average price is $653.92. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio is 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.