Tennessee Valley Asset Management Partners Acquires Shares of 93 Parker-Hannifin Co. (NYSE:PH)

Tennessee Valley Asset Management Partners acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 93 shares of the industrial products company’s stock, valued at approximately $43,000.

Several other institutional investors have also recently bought and sold shares of PH. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Baystate Wealth Management LLC increased its stake in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares during the period. Oakworth Capital Inc. increased its stake in shares of Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after buying an additional 28 shares during the period. Grove Bank & Trust increased its stake in shares of Parker-Hannifin by 164.3% in the 3rd quarter. Grove Bank & Trust now owns 111 shares of the industrial products company’s stock valued at $43,000 after buying an additional 69 shares during the period. Finally, Carmel Capital Partners LLC increased its stake in shares of Parker-Hannifin by 1,700.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 126 shares of the industrial products company’s stock valued at $49,000 after buying an additional 119 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

PH opened at $550.24 on Wednesday. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15. The firm has a market capitalization of $70.66 billion, a PE ratio of 27.24, a PEG ratio of 1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The business’s 50-day simple moving average is $541.56 and its 200 day simple moving average is $475.61.

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

Parker-Hannifin Announces Dividend

The business also recently announced 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 of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.08%. Parker-Hannifin’s payout ratio is presently 29.31%.

Analysts Set New Price Targets

A number of brokerages recently commented on PH. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Barclays lifted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Parker-Hannifin Company 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.