Graypoint LLC Raises Stake in Parker-Hannifin Co. (NYSE:PH)

Graypoint LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 924 shares of the industrial products company’s stock after buying an additional 111 shares during the quarter. Graypoint LLC’s holdings in Parker-Hannifin were worth $426,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. M&R Capital Management Inc. lifted its stake in Parker-Hannifin by 25.0% during the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 25 shares in the last quarter. Private Trust Co. NA lifted its stake in Parker-Hannifin by 0.7% during the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after acquiring an additional 25 shares in the last quarter. Acropolis Investment Management LLC raised its position in Parker-Hannifin by 4.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 563 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 26 shares in the last quarter. Finally, Caprock Group LLC raised its position in Parker-Hannifin by 1.8% in the 4th quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 26 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PH. Barclays increased their price target on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company increased their price target on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Truist Financial began coverage on Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. KeyCorp increased their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus increased their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Stock Down 1.0 %

Parker-Hannifin stock opened at $550.32 on Monday. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15. The stock has a 50 day moving average of $537.77 and a two-hundred day moving average of $468.00. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $70.67 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.01 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $4.76 EPS. As a group, research analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.08%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by insiders.

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.