Horizon Investment Services LLC Has $4.63 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Horizon Investment Services LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,286 shares of the industrial products company’s stock after selling 45 shares during the quarter. Parker-Hannifin comprises approximately 2.0% of Horizon Investment Services LLC’s investment portfolio, making the stock its 15th biggest position. Horizon Investment Services LLC’s holdings in Parker-Hannifin were worth $4,634,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PH. Global Retirement Partners LLC increased its position in Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares during the period. FFT Wealth Management LLC boosted its holdings in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC boosted its holdings in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 15 shares during the period. Grove Bank & Trust increased its holdings in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the period. Finally, Moody Lynn & Lieberson LLC raised its position in shares of Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after buying an additional 16 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 4.1 %

Shares of PH opened at $600.78 on Friday. The stock’s 50-day moving average price is $658.39 and its two-hundred day moving average price is $654.07. Parker-Hannifin Co. has a 12 month low of $492.71 and a 12 month high of $718.44. The company has a market capitalization of $77.33 billion, a PE ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

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 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%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup initiated coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Truist Financial raised 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. Finally, Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin 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.