Ballentine Partners LLC Acquires 89 Shares of Parker-Hannifin Co. (NYSE:PH)

Ballentine Partners LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,587 shares of the industrial products company’s stock after acquiring an additional 89 shares during the period. Ballentine Partners LLC’s holdings in Parker-Hannifin were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PH. Franklin Resources Inc. increased its position in Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after buying an additional 181,859 shares in the last quarter. Wilkinson Global Asset Management LLC increased its holdings in Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after acquiring an additional 14,526 shares in the last quarter. Banco Santander S.A. increased its holdings in Parker-Hannifin by 11.9% in the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock worth $9,147,000 after acquiring an additional 1,544 shares in the last quarter. FMR LLC raised its stake in Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after acquiring an additional 272,531 shares during the period. Finally, Ritholtz Wealth Management lifted its holdings in Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 691 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.6 %

Shares of PH stock opened at $674.15 on Thursday. The company has a market cap of $86.78 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 2.74 and a beta of 1.45. Parker-Hannifin Co. has a 1 year low of $463.16 and a 1 year high of $712.42. The stock’s 50 day simple moving average is $669.77 and its two-hundred day simple moving average is $622.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.96 EPS. Research analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,077 shares of company stock valued at $12,303,829. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a report on Monday, November 18th. UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective on the stock. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $722.94.

Parker-Hannifin Profile

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.