FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $236,000 Stock Holdings in Parker-Hannifin Corporation $PH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 74.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268 shares of the industrial products company’s stock after selling 795 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Parker-Hannifin were worth $236,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin during the third quarter worth about $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $29,000. Ameriflex Group Inc. grew its position in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after buying an additional 33 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its position in Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after buying an additional 16 shares in the last quarter. Finally, Morse Asset Management Inc grew its position in Parker-Hannifin by 164.7% during the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after buying an additional 28 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction that occurred 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 of the company’s stock, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have 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 corporate insiders.

Parker-Hannifin Stock Up 0.2%

PH opened at $976.03 on Monday. The firm’s 50-day simple moving average is $952.62 and its 200-day simple moving average is $896.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin Corporation has a twelve month low of $583.89 and a twelve month high of $1,034.96. The firm has a market cap of $123.19 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 3.14 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the previous year, the company earned $6.53 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Corporation will post 30.99 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on PH. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research note on Thursday, January 29th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Barclays raised their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, KeyCorp restated an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.60.

About Parker-Hannifin

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.