Parker-Hannifin Co. (NYSE:PH) Stake Reduced by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,529 shares of the industrial products company’s stock after selling 202 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Parker-Hannifin were worth $4,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Allstate Corp acquired a new position in shares of Parker-Hannifin in the 4th quarter worth $2,420,000. Brown Brothers Harriman & Co. increased its stake in Parker-Hannifin by 10.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,646 shares of the industrial products company’s stock worth $1,047,000 after purchasing an additional 155 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in Parker-Hannifin by 6.2% during the 4th quarter. Level Four Advisory Services LLC now owns 1,086 shares of the industrial products company’s stock worth $691,000 after buying an additional 63 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Parker-Hannifin by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,349 shares of the industrial products company’s stock worth $2,766,000 after buying an additional 51 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in Parker-Hannifin by 6.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 557,160 shares of the industrial products company’s stock valued at $354,370,000 after buying an additional 34,821 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $600.78 on Friday. The firm has a market capitalization of $77.33 billion, a PE ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year 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 firm’s fifty day simple moving average is $658.39 and its 200 day simple moving average is $654.07.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors 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 1.09%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PH shares. Citigroup initiated coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. KeyCorp increased their price target 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. Barclays lowered their price objective 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, March 10th. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Finally, 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 report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $736.65.

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.