Parker-Hannifin Corporation $PH Position Lifted by Brookstone Capital Management

Brookstone Capital Management grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,406 shares of the industrial products company’s stock after acquiring an additional 1,334 shares during the period. Brookstone Capital Management’s holdings in Parker-Hannifin were worth $9,147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PH. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin in the third quarter valued at about $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter worth about $29,000. Ameriflex Group Inc. boosted its holdings in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares during the period. Morse Asset Management Inc boosted its holdings in shares of Parker-Hannifin by 164.7% in the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after buying an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $36,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 3.7%

Shares of PH stock opened at $893.69 on Wednesday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The business’s fifty day moving average is $952.57 and its 200-day moving average is $871.21. The stock has a market cap of $112.80 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same period last year, the business earned $6.53 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This trade represents a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,063 shares of company stock valued at $9,891,214 in the last ninety days. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

PH has been the topic of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. BNP Paribas Exane began coverage on Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target on the stock. Truist Financial set a $1,139.00 target price on Parker-Hannifin in a research note on Friday, January 30th. Morgan Stanley boosted their target price on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. boosted their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,000.10.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.