BXM Wealth LLC Has $55.20 Million Stake in Parker-Hannifin Corporation $PH

BXM Wealth LLC grew its position in Parker-Hannifin Corporation (NYSE:PH) by 9,401.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,803 shares of the industrial products company’s stock after acquiring an additional 62,142 shares during the period. Parker-Hannifin accounts for 5.4% of BXM Wealth LLC’s portfolio, making the stock its 3rd largest holding. BXM Wealth LLC’s holdings in Parker-Hannifin were worth $55,201,000 at the end of the most recent quarter.

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

Parker-Hannifin Stock Performance

PH stock opened at $908.32 on Monday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market cap of $114.65 billion, a PE ratio of 33.13, a P/E/G ratio of 2.92 and a beta of 1.25. The business’s 50-day moving average price is $951.11 and its two-hundred day moving average price is $874.62.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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 net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.53 earnings per share. As a group, research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the transaction, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,063 shares of company stock valued at $9,891,214 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PH. Wells Fargo & Company cut their price target on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Morgan Stanley boosted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $996.60.

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.