Certuity LLC Sells 619 Shares of Parker-Hannifin Corporation $PH

Certuity LLC lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 48.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 661 shares of the industrial products company’s stock after selling 619 shares during the period. Certuity LLC’s holdings in Parker-Hannifin were worth $582,000 at the end of the most recent quarter.

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PH has been the subject of several recent research reports. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of 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. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Morgan Stanley increased their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Seventeen equities research 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 an average target price of $1,000.60.

Parker-Hannifin Price Performance

PH opened at $963.45 on Wednesday. Parker-Hannifin Corporation has a one year low of $583.89 and a one year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company’s 50 day simple moving average is $951.16 and its 200-day simple moving average is $900.40. The stock has a market capitalization of $121.60 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 3.13 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, 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%. During the same quarter in the previous year, the company earned $6.53 EPS. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 31.04 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend 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 of this dividend is Friday, May 8th. Parker-Hannifin’s payout ratio is currently 29.18%.

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.