Diversify Advisory Services LLC Has $608,000 Stock Holdings in Parker-Hannifin Corporation $PH

Diversify Advisory Services LLC lessened its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 44.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 644 shares of the industrial products company’s stock after selling 523 shares during the quarter. Diversify Advisory Services LLC’s holdings in Parker-Hannifin were worth $608,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin during the third quarter valued at $25,000. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at $29,000. Ameriflex Group Inc. lifted its stake in shares of Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 33 shares during the period. Morse Asset Management Inc lifted its stake in shares of Parker-Hannifin by 164.7% during the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin during the third quarter valued at $36,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.5%

NYSE PH opened at $984.59 on Wednesday. The stock has a 50-day simple moving average of $954.18 and a 200 day simple moving average of $884.84. The company has a market capitalization of $124.27 billion, a PE ratio of 35.91, a P/E/G ratio of 3.19 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12 month low of $538.08 and a 12 month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm earned $6.53 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is 26.26%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PH. Wells Fargo & Company dropped their price objective on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a report on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price objective on Parker-Hannifin in a report on Thursday, January 29th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,000.60.

Insider Buying and Selling

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is owned by company insiders.

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.