Parker-Hannifin Co. (NYSE:PH) Shares Sold by Conscious Wealth Investments LLC

Conscious Wealth Investments LLC reduced its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,758 shares of the industrial products company’s stock after selling 37 shares during the quarter. Parker-Hannifin makes up approximately 2.6% of Conscious Wealth Investments LLC’s holdings, making the stock its 10th biggest position. Conscious Wealth Investments LLC’s holdings in Parker-Hannifin were worth $3,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Birchcreek Wealth Management LLC grew its position in Parker-Hannifin by 9.9% during the fourth quarter. Birchcreek Wealth Management LLC now owns 387 shares of the industrial products company’s stock worth $246,000 after buying an additional 35 shares in the last quarter. World Equity Group Inc. acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $953,000. Ascent Wealth Partners LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth about $1,216,000. MONECO Advisors LLC grew its holdings in Parker-Hannifin by 32.7% during the 4th quarter. MONECO Advisors LLC now owns 601 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 148 shares during the last quarter. Finally, Howard Capital Management Inc. increased its holdings in Parker-Hannifin by 4.1% in the fourth quarter. Howard Capital Management Inc. now owns 833 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 33 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 4.1 %

PH opened at $667.06 on Monday. The company has a market cap of $85.86 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. 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 company has a 50 day moving average of $665.56 and a 200 day moving average of $646.50.

Parker-Hannifin (NYSE:PH) last posted 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%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid 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 0.98%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PH shares. Evercore ISI increased their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial boosted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $739.06.

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.