Caprock Group LLC Boosts Holdings in Parker-Hannifin Corporation $PH

Caprock Group LLC increased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,566 shares of the industrial products company’s stock after acquiring an additional 663 shares during the period. Caprock Group LLC’s holdings in Parker-Hannifin were worth $4,014,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC grew its position in Parker-Hannifin by 2.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $7,415,000 after acquiring an additional 167 shares during the period. KLP Kapitalforvaltning AS grew its holdings in shares of Parker-Hannifin by 3.6% during the 4th quarter. KLP Kapitalforvaltning AS now owns 48,693 shares of the industrial products company’s stock worth $42,799,000 after purchasing an additional 1,700 shares during the period. M&T Bank Corp grew its holdings in shares of Parker-Hannifin by 128.5% during the 4th quarter. M&T Bank Corp now owns 80,206 shares of the industrial products company’s stock worth $70,498,000 after purchasing an additional 45,112 shares during the period. Crown Wealth Group LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $244,000. Finally, CPC Advisors LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $6,985,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PH. Morgan Stanley increased their price target 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. JPMorgan Chase & Co. increased their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating 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. Truist Financial set a $1,139.00 price target on Parker-Hannifin in a report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price target on Parker-Hannifin in a report on Thursday, January 29th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,000.60.

Parker-Hannifin Stock Up 2.1%

NYSE:PH opened at $974.58 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $953.12 and its two-hundred day moving average is $893.52. Parker-Hannifin Corporation has a 52 week low of $576.26 and a 52 week high of $1,034.96. The stock has a market capitalization of $123.01 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping 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 quarter in the previous year, the business earned $6.53 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Research analysts anticipate that Parker-Hannifin Corporation will post 30.99 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date is Friday, May 8th. Parker-Hannifin’s payout ratio is currently 26.26%.

Insider Activity at Parker-Hannifin

In other news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade 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 accessible through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the stock in a transaction 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 completion of the sale, 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. 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 over the last ninety days. 0.32% of the stock is owned by insiders.

Parker-Hannifin Company 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.