The Manufacturers Life Insurance Company Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

The Manufacturers Life Insurance Company lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 345,541 shares of the industrial products company’s stock after selling 29,774 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Parker-Hannifin were worth $219,774,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its holdings in shares of Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares during the last quarter. FFT Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after buying an additional 15 shares during the last quarter. GenTrust LLC boosted its holdings in shares of Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after buying an additional 15 shares during the last quarter. Grove Bank & Trust lifted its holdings in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its holdings in Parker-Hannifin by 0.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $597.00 on Tuesday. The company has a market cap of $76.85 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $605.53 and a two-hundred day moving average of $646.60.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate 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, analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a $1.80 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.21%. Parker-Hannifin’s dividend payout ratio is presently 29.80%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. KeyCorp lowered their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup lowered their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Truist Financial reduced their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays reduced their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $705.35.

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.