Lindbrook Capital LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Lindbrook Capital LLC lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,332 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Lindbrook Capital LLC’s holdings in Parker-Hannifin were worth $614,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. abrdn plc lifted its holdings in Parker-Hannifin by 57.8% in the fourth quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock valued at $25,247,000 after acquiring an additional 20,073 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Parker-Hannifin by 43.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 2,001 shares of the industrial products company’s stock valued at $922,000 after acquiring an additional 602 shares during the period. Heirloom Wealth Management lifted its holdings in Parker-Hannifin by 2.5% in the fourth quarter. Heirloom Wealth Management now owns 14,449 shares of the industrial products company’s stock valued at $6,657,000 after acquiring an additional 352 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin in the fourth quarter valued at about $26,000. Finally, Greenleaf Trust lifted its holdings in Parker-Hannifin by 4.7% in the fourth quarter. Greenleaf Trust now owns 2,889 shares of the industrial products company’s stock valued at $1,331,000 after acquiring an additional 130 shares during the period. 82.44% of the stock is 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 firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on 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 transaction, the vice president now 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. Insiders sold 12,079 shares of company stock worth $6,099,566 in the last quarter. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $3.44 during trading on Friday, hitting $534.65. 557,975 shares of the company’s stock were exchanged, compared to its average volume of 477,044. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15. The business’s 50-day simple moving average is $540.36 and its 200 day simple moving average is $472.78. The company has a market cap of $68.65 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.96 and a beta of 1.52.

Parker-Hannifin (NYSE:PHGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.76 EPS. As a group, equities analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PH shares. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. KeyCorp raised their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI raised their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Barclays raised their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Stifel Nicolaus raised their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $515.38.

Read Our Latest Stock Report on PH

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

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

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