Skba Capital Management LLC Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Skba Capital Management LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,940 shares of the industrial products company’s stock after selling 580 shares during the quarter. Skba Capital Management LLC’s holdings in Parker-Hannifin were worth $6,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PH. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Prestige Wealth Management Group LLC increased its stake in shares of Parker-Hannifin by 83.3% during the third 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 during the period. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth $40,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Barclays lowered their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Truist Financial upped their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, KeyCorp increased their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

Shares of PH opened at $600.78 on Monday. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a market capitalization of $77.33 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. The firm has a 50 day moving average of $658.39 and a 200 day moving average of $655.07. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

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

Parker-Hannifin Announces Dividend

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

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.