Parsons Capital Management Inc. RI Grows Position in Parker-Hannifin Co. (NYSE:PH)

Parsons Capital Management Inc. RI lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 27.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,329 shares of the industrial products company’s stock after acquiring an additional 925 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Parker-Hannifin were worth $1,994,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cetera Advisor Networks LLC boosted its holdings in Parker-Hannifin by 8.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock valued at $425,000 after acquiring an additional 112 shares during the period. Panagora Asset Management Inc. raised its position in shares of Parker-Hannifin by 69.8% during the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock worth $1,098,000 after acquiring an additional 1,591 shares in the last quarter. Prudential PLC purchased a new position in Parker-Hannifin during the 1st quarter worth approximately $687,000. Moors & Cabot Inc. grew its stake in Parker-Hannifin by 270.8% during the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock worth $771,000 after buying an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after buying an additional 190,889 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,079 shares of company stock valued at $6,099,566. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Down 0.1 %

Parker-Hannifin stock traded down $0.78 during trading on Tuesday, hitting $550.23. The company’s stock had a trading volume of 63,075 shares, compared to its average volume of 593,401. The stock has a market capitalization of $70.66 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 2.05 and a beta of 1.52. The stock’s fifty day moving average is $522.01 and its 200 day moving average is $456.26. Parker-Hannifin Co. has a 1-year low of $308.26 and a 1-year high of $561.13. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

Parker-Hannifin (NYSE:PHGet Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.76 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.2 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.08%. Parker-Hannifin’s payout ratio is currently 29.31%.

Analysts Set New Price Targets

PH has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. KeyCorp lifted their price objective on Parker-Hannifin from $500.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Truist Financial assumed coverage on Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $588.00 price objective on shares of Parker-Hannifin in a report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $504.56.

Check Out Our Latest Stock Report on Parker-Hannifin

About Parker-Hannifin

(Free Report)

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

See Also

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Co. (NYSE:PHFree Report).

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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