Horizon Investment Services LLC Sells 45 Shares of Parker-Hannifin Co. (NYSE:PH)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $30,000. Prestige Wealth Management Group LLC increased its holdings in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter valued at about $35,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin during the fourth quarter worth about $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 4.1 %

Shares of Parker-Hannifin stock opened at $600.78 on Friday. The stock has a market cap of $77.33 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. 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 Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The business’s 50 day moving average is $658.39 and its 200-day moving average is $654.07.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results 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%. Equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays cut their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI boosted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, KeyCorp raised their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

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.