Parker-Hannifin Co. (NYSE:PH) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,788 shares of the industrial products company’s stock after selling 119 shares during the quarter. NewEdge Wealth LLC’s holdings in Parker-Hannifin were worth $2,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. OFI Invest Asset Management purchased a new stake in Parker-Hannifin during the third quarter worth about $25,000. Baystate Wealth Management LLC boosted its holdings in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. DHJJ Financial Advisors Ltd. purchased a new stake in Parker-Hannifin during the third quarter worth about $29,000. First Capital Advisors Group LLC. purchased a new stake in Parker-Hannifin during the second quarter worth about $30,000. Finally, Oakworth Capital Inc. boosted its holdings in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 1.0 %

NYSE PH opened at $550.32 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. Parker-Hannifin Co. has a 12 month low of $309.89 and a 12 month high of $570.15. The company’s fifty day moving average price is $537.77 and its two-hundred day moving average price is $468.00. The company has a market capitalization of $70.67 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52.

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

Parker-Hannifin Announces Dividend

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 $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. KeyCorp upped their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Truist Financial assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Buying and Selling

In related news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 in the last quarter. Company insiders own 1.03% of the company’s stock.

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.