Stratos Wealth Advisors LLC Lowers Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Stratos Wealth Advisors LLC reduced its holdings in Parker-Hannifin Co. (NYSE:PH) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 635 shares of the industrial products company’s stock after selling 58 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PH. Diversified Trust Co lifted its holdings in shares of Parker-Hannifin by 11.4% during the 3rd quarter. Diversified Trust Co now owns 978 shares of the industrial products company’s stock worth $618,000 after acquiring an additional 100 shares during the period. Atomi Financial Group Inc. increased its position in Parker-Hannifin by 28.8% during the third quarter. Atomi Financial Group Inc. now owns 734 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 164 shares during the last quarter. Brookstone Capital Management raised its stake in Parker-Hannifin by 16.5% during the third quarter. Brookstone Capital Management now owns 5,294 shares of the industrial products company’s stock worth $3,345,000 after purchasing an additional 750 shares during the period. CWM LLC boosted its holdings in shares of Parker-Hannifin by 8.6% in the 3rd quarter. CWM LLC now owns 4,363 shares of the industrial products company’s stock valued at $2,757,000 after purchasing an additional 346 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Parker-Hannifin by 4.9% during the 3rd quarter. Wedmont Private Capital now owns 2,286 shares of the industrial products company’s stock valued at $1,440,000 after buying an additional 106 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PH has been the topic of several research reports. KeyCorp increased their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Argus increased their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup began coverage on shares of Parker-Hannifin in a research report on Friday. They set a “buy” rating and a $795.00 price target on the stock. Finally, Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $729.18.

Parker-Hannifin Stock Performance

Shares of PH opened at $683.62 on Friday. Parker-Hannifin Co. has a 52-week low of $492.71 and a 52-week high of $718.44. 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 $88.00 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.90 and a beta of 1.45. The business’s 50 day moving average is $665.96 and its two-hundred day moving average is $633.41.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 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.