Parker-Hannifin Co. (NYSE:PH) Stock Position Trimmed by Alerus Financial NA

Alerus Financial NA decreased its position in Parker-Hannifin Co. (NYSE:PH) by 9.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,677 shares of the industrial products company’s stock after selling 1,409 shares during the period. Alerus Financial NA’s holdings in Parker-Hannifin were worth $8,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays decreased their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective 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 stock a “buy” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $626.76 on Friday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week 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. The company has a market cap of $80.68 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm has a fifty day moving average price of $659.79 and a two-hundred day moving average price of $653.92.

Parker-Hannifin (NYSE:PH) last announced its earnings results 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 return on equity of 27.34% and a net margin of 15.87%. Analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

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.