Atlantic Union Bankshares Corp Sells 183 Shares of Parker-Hannifin Co. (NYSE:PH)

Atlantic Union Bankshares Corp lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,177 shares of the industrial products company’s stock after selling 183 shares during the period. Atlantic Union Bankshares Corp’s holdings in Parker-Hannifin were worth $8,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PH. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake 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 acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at approximately $40,000. Finally, Hager Investment Management Services LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at approximately $44,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial boosted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research note on Friday, January 31st. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Evercore ISI boosted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Stock Performance

NYSE:PH opened at $635.57 on Friday. The stock has a fifty day moving average price of $664.88 and a 200-day moving average price of $650.47. The company has a market cap of $81.81 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is 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.