Thrivent Financial for Lutherans Sells 2,845 Shares of Parker-Hannifin Co. (NYSE:PH)

Thrivent Financial for Lutherans lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 7.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,042 shares of the industrial products company’s stock after selling 2,845 shares during the period. Thrivent Financial for Lutherans’ holdings in Parker-Hannifin were worth $23,596,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased 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 buying an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PH. Evercore ISI boosted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Citigroup started coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Down 0.9 %

NYSE PH opened at $624.61 on Friday. The business has a fifty day moving average price of $660.75 and a two-hundred day moving average price of $651.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The stock has a market capitalization of $80.40 billion, a PE ratio of 25.85, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share 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 analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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