GC Wealth Management RIA LLC Cuts Stock Position in Parker-Hannifin Co. (NYSE:PH)

GC Wealth Management RIA LLC lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 12.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 907 shares of the industrial products company’s stock after selling 127 shares during the period. GC Wealth Management RIA LLC’s holdings in Parker-Hannifin were worth $577,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at about $35,000. Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at about $40,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Parker-Hannifin in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PH shares. KeyCorp increased their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus increased their price target 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. Citigroup started coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Finally, Truist Financial increased 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. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Trading Up 1.0 %

NYSE PH opened at $612.51 on Wednesday. The company has a market capitalization of $78.84 billion, a PE ratio of 25.35, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a fifty day moving average of $663.82 and a 200 day moving average of $651.68. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. 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 (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. Research analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm 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 was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.06%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

About Parker-Hannifin

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.