CFM Wealth Partners LLC Trims Position in Parker-Hannifin Co. (NYSE:PH)

by · The Cerbat Gem

CFM Wealth Partners LLC lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 17.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 543 shares of the industrial products company’s stock after selling 118 shares during the quarter. CFM Wealth Partners LLC’s holdings in Parker-Hannifin were worth $212,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $29,000. First Capital Advisors Group LLC. bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $30,000. Fiduciary Alliance LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $34,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 82.25% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $458.22 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.50 and a current ratio of 0.89. Parker-Hannifin Co. has a fifty-two week low of $281.19 and a fifty-two week high of $459.00. The stock has a 50 day moving average price of $413.31 and a two-hundred day moving average price of $400.20. The company has a market capitalization of $58.87 billion, a P/E ratio of 25.18, a PEG ratio of 1.66 and a beta of 1.50.

Parker-Hannifin (NYSE:PH – Get Free Report) last posted its earnings results on Thursday, November 2nd. The industrial products company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.63. Parker-Hannifin had a return on equity of 29.56% and a net margin of 11.92%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same period in the previous year, the firm earned $4.74 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Analysts expect that Parker-Hannifin Co. will post 23.18 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, November 13th were paid a dividend of $1.48 per share. The ex-dividend date was Friday, November 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.29%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 32.87%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PH shares. Bank of America upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $435.00 to $475.00 in a research report on Thursday, October 5th. Deutsche Bank Aktiengesellschaft upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and boosted their target price for the stock from $462.00 to $506.00 in a research report on Thursday, November 9th. Wells Fargo & Company boosted their target price on Parker-Hannifin from $450.00 to $510.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wolfe Research restated a “peer perform” rating on shares of Parker-Hannifin in a research report on Monday, December 11th. Finally, StockNews.com started coverage on Parker-Hannifin in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $458.93.

Read Our Latest Research Report on Parker-Hannifin

Parker-Hannifin Company Profile

(Free Report)

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.

See Also

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