Moors & Cabot Inc. Sells 41 Shares of Parker-Hannifin Co. (NYSE:PH)

Moors & Cabot Inc. lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 2,908 shares of the industrial products company’s stock after selling 41 shares during the quarter. Moors & Cabot Inc.’s holdings in Parker-Hannifin were worth $1,850,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PH. CWA Asset Management Group LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $220,000. Axxcess Wealth Management LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $441,000. Venturi Wealth Management LLC raised its stake in shares of Parker-Hannifin by 59.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 278 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 104 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Parker-Hannifin by 100.4% during the 3rd quarter. Harbour Investments Inc. now owns 1,511 shares of the industrial products company’s stock worth $955,000 after acquiring an additional 757 shares in the last quarter. Finally, Verus Capital Partners LLC raised its stake in shares of Parker-Hannifin by 11.3% during the 3rd quarter. Verus Capital Partners LLC now owns 1,468 shares of the industrial products company’s stock worth $928,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PH shares. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays dropped their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, KeyCorp boosted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Up 0.4 %

PH stock opened at $613.81 on Thursday. The firm’s fifty day simple moving average is $663.37 and its 200-day simple moving average is $651.41. The company has a market capitalization of $79.01 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. 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 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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%. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) 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.