Sheaff Brock Investment Advisors LLC Trims Stock Position in Parker-Hannifin Co. (NYSE:PH)

Sheaff Brock Investment Advisors LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,042 shares of the industrial products company’s stock after selling 1,067 shares during the quarter. Parker-Hannifin makes up approximately 0.8% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 26th largest holding. Sheaff Brock Investment Advisors LLC’s holdings in Parker-Hannifin were worth $9,567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in PH. Franklin Resources Inc. raised its position in Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $23,390,000. SG Americas Securities LLC boosted its stake in shares of Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after buying an additional 21,521 shares during the period. Wilkinson Global Asset Management LLC grew its holdings in shares of Parker-Hannifin by 59.1% during the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after buying an additional 14,526 shares during the last quarter. Finally, Columbus Macro LLC increased its position in Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after acquiring an additional 8,914 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Robert W. Baird increased their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Barclays dropped their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company raised their target price 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. Finally, Truist Financial boosted their price target 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. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $729.18.

Parker-Hannifin Stock Up 0.9 %

PH opened at $700.13 on Friday. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a market cap of $90.12 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. The business’s fifty day moving average is $664.47 and its two-hundred day moving average is $639.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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%. Analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio is currently 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.