Creative Financial Designs Inc. ADV Sells 195 Shares of Parker-Hannifin Co. (NYSE:PH)

Creative Financial Designs Inc. ADV reduced its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 10.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,678 shares of the industrial products company’s stock after selling 195 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Parker-Hannifin were worth $1,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SlateStone Wealth LLC boosted its stake in Parker-Hannifin by 17.0% in the 4th quarter. SlateStone Wealth LLC now owns 1,758 shares of the industrial products company’s stock valued at $1,118,000 after purchasing an additional 255 shares during the period. Corient Private Wealth LLC boosted its stake in Parker-Hannifin by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 207,866 shares of the industrial products company’s stock valued at $131,870,000 after purchasing an additional 1,652 shares during the period. Greenwich Wealth Management LLC boosted its stake in Parker-Hannifin by 1.3% in the 4th quarter. Greenwich Wealth Management LLC now owns 12,320 shares of the industrial products company’s stock valued at $7,836,000 after purchasing an additional 162 shares during the period. Choate Investment Advisors boosted its stake in Parker-Hannifin by 6.8% in the 4th quarter. Choate Investment Advisors now owns 1,893 shares of the industrial products company’s stock valued at $1,204,000 after purchasing an additional 121 shares during the period. Finally, Diversified Enterprises LLC boosted its stake in Parker-Hannifin by 2.8% in the 4th quarter. Diversified Enterprises LLC now owns 730 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 20 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of PH opened at $622.09 on Tuesday. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The business has a 50-day simple moving average of $661.68 and a two-hundred day simple moving average of $652.21. 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 stock has a market cap of $80.08 billion, a PE ratio of 25.75, a PEG ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. Analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. 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 1.05%. Parker-Hannifin’s payout ratio is presently 26.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup assumed coverage on Parker-Hannifin in a research note on Friday, February 7th. They issued a “buy” rating and a $795.00 price target for the company. Barclays reduced their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a research report on Friday, January 31st. 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 an average rating of “Moderate Buy” and an average target price 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.