Marks Group Wealth Management Inc Has $9.52 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Marks Group Wealth Management Inc reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,972 shares of the industrial products company’s stock after selling 816 shares during the quarter. Parker-Hannifin accounts for 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 23rd biggest holding. Marks Group Wealth Management Inc’s holdings in Parker-Hannifin were worth $9,523,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. West Branch Capital LLC bought a new stake in Parker-Hannifin during the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its position in shares of 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 bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $39,000. Finally, Hager Investment Management Services LLC bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $44,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $680.72 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $87.62 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.84 and a beta of 1.45. The company’s fifty day simple moving average is $665.16 and its 200 day simple moving average is $636.60. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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, analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research analyst reports. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. TD Cowen boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. UBS Group decreased their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Barclays dropped their price objective on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $729.18.

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.