Sigma Planning Corp Sells 255 Shares of Parker-Hannifin Co. (NYSE:PH)

Sigma Planning Corp cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 31.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 556 shares of the industrial products company’s stock after selling 255 shares during the period. Sigma Planning Corp’s holdings in Parker-Hannifin were worth $256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in Parker-Hannifin during the 4th quarter valued at about $26,000. Baystate Wealth Management LLC lifted its position in Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares during the period. Oakworth Capital Inc. lifted its position in Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares during the period. Finally, ORG Partners LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at about $42,000. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PH. Truist Financial began coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective for the company. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus boosted their target price 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 given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $553.64 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 12 month low of $312.36 and a 12 month high of $570.15. The company has a 50 day simple moving average of $543.27 and a two-hundred day simple moving average of $478.78. The stock has a market cap of $71.09 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.03 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the business posted $4.76 EPS. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 29.31%.

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 3,904 shares of the business’s 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 transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the business’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 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. Insiders sold a total of 12,079 shares of company stock worth $6,099,566 in the last three months. Company insiders own 1.03% of the company’s stock.

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.