Parker-Hannifin Co. (NYSE:PH) Position Cut by Umpqua Bank

Umpqua Bank trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,559 shares of the industrial products company’s stock after selling 131 shares during the quarter. Parker-Hannifin comprises 1.2% of Umpqua Bank’s portfolio, making the stock its 14th largest holding. Umpqua Bank’s holdings in Parker-Hannifin were worth $3,597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PH. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $30,000. Prestige Wealth Management Group LLC lifted its position in shares of Parker-Hannifin by 83.3% during 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 during the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $40,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 0.3 %

PH stock opened at $622.79 on Friday. 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 Co. has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a 50-day moving average of $660.60 and a two-hundred day moving average of $652.13. The stock has a market capitalization of $80.17 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PH. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial upped their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, UBS Group dropped their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.