Sigma Planning Corp Sells 3,593 Shares of Parker-Hannifin Co. (NYSE:PH)

Sigma Planning Corp decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 77.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,053 shares of the industrial products company’s stock after selling 3,593 shares during the quarter. Sigma Planning Corp’s holdings in Parker-Hannifin were worth $670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Prestige Wealth Management Group LLC grew its stake in 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 worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at $40,000. Hager Investment Management Services LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at $44,000. Finally, Retirement Wealth Solutions LLC bought a new position in Parker-Hannifin during the fourth quarter worth $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.5 %

NYSE:PH opened at $660.70 on Thursday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a 50-day moving average price of $665.42 and a two-hundred day moving average price of $647.85. The firm has a market cap of $85.05 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

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, 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%. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Barclays cut their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $739.06.

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.