Sage Mountain Advisors LLC Decreases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Sage Mountain Advisors LLC trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 23.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 558 shares of the industrial products company’s stock after selling 169 shares during the period. Sage Mountain Advisors LLC’s holdings in Parker-Hannifin were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PH. CWA Asset Management Group LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $220,000. Axxcess Wealth Management LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $441,000. Venturi Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 59.8% during the third quarter. Venturi Wealth Management LLC now owns 278 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 104 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Parker-Hannifin by 100.4% during the third quarter. Harbour Investments Inc. now owns 1,511 shares of the industrial products company’s stock valued at $955,000 after purchasing an additional 757 shares during the last quarter. Finally, Verus Capital Partners LLC raised its holdings in shares of Parker-Hannifin by 11.3% during the third quarter. Verus Capital Partners LLC now owns 1,468 shares of the industrial products company’s stock valued at $928,000 after purchasing an additional 149 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $613.81 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a fifty day moving average price of $663.37 and a 200 day moving average price of $651.41. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The firm has a market cap of $79.01 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued 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%. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.06%. Parker-Hannifin’s dividend payout ratio is 26.99%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PH. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Barclays cut their target price on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus 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.