First American Trust FSB Trims Holdings in Parker-Hannifin Co. (NYSE:PH)

First American Trust FSB cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,226 shares of the industrial products company’s stock after selling 347 shares during the quarter. First American Trust FSB’s holdings in Parker-Hannifin were worth $2,052,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $30,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $643.21 on Tuesday. The firm has a 50-day moving average of $660.71 and a two-hundred day moving average of $653.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market cap of $82.79 billion, a P/E ratio of 26.62, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a 1-year low of $492.71 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued 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 return on equity of 27.34% and a net margin of 15.87%. On average, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in 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. UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup assumed coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, KeyCorp increased their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.