Thrivent Financial for Lutherans Sells 2,845 Shares of Parker-Hannifin Co. (NYSE:PH)

Thrivent Financial for Lutherans trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 7.1% in the fourth quarter, Holdings Channel reports. The fund owned 37,042 shares of the industrial products company’s stock after selling 2,845 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Parker-Hannifin were worth $23,596,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Prestige Wealth Management Group LLC increased its holdings in Parker-Hannifin by 83.3% in 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 during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the fourth quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $40,000. Finally, Hager Investment Management Services LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $44,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PH. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup began coverage on Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Wells Fargo & Company increased their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Evercore ISI increased their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $624.61 on Friday. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The firm has a market capitalization of $80.40 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.85 and a beta of 1.50. The business has a 50-day simple moving average of $660.75 and a 200 day simple moving average of $651.97. 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 issued its earnings results 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 return on equity of 27.34% and a net margin of 15.87%. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

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.