Parker-Hannifin Co. (NYSE:PH) Stock Holdings Lessened by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,167 shares of the industrial products company’s stock after selling 24 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Parker-Hannifin were worth $537,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PH. Commonwealth Equity Services LLC increased its stake in shares of Parker-Hannifin by 3.2% in the third quarter. Commonwealth Equity Services LLC now owns 36,377 shares of the industrial products company’s stock worth $14,170,000 after acquiring an additional 1,112 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Parker-Hannifin by 0.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,543 shares of the industrial products company’s stock valued at $5,275,000 after buying an additional 104 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Parker-Hannifin by 3.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 17,215 shares of the industrial products company’s stock worth $6,706,000 after purchasing an additional 502 shares in the last quarter. Raymond James & Associates raised its position in Parker-Hannifin by 3.3% in the third quarter. Raymond James & Associates now owns 188,382 shares of the industrial products company’s stock worth $73,379,000 after purchasing an additional 6,090 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Parker-Hannifin by 5.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 51,372 shares of the industrial products company’s stock worth $20,010,000 after purchasing an additional 2,465 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on PH shares. Truist Financial increased their price target on shares of Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research note on Friday. Evercore ISI lifted their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, KeyCorp raised their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $523.94.

Parker-Hannifin Stock Up 1.0 %

PH stock traded up $5.50 during midday trading on Friday, hitting $536.18. The company’s stock had a trading volume of 874,291 shares, compared to its average volume of 606,289. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. Parker-Hannifin Co. has a twelve month low of $319.14 and a twelve month high of $570.15. The company’s fifty day moving average price is $544.86 and its 200 day moving average price is $481.66. The stock has a market capitalization of $68.85 billion, a P/E ratio of 26.54, a PEG ratio of 1.99 and a beta of 1.51.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. Parker-Hannifin’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.93 EPS. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Parker-Hannifin’s payout ratio is currently 29.31%.

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.