Cyndeo Wealth Partners LLC Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Cyndeo Wealth Partners LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,456 shares of the industrial products company’s stock after purchasing an additional 235 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Parker-Hannifin were worth $2,834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Bangor Savings Bank boosted its position in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new position in Parker-Hannifin in the fourth quarter worth $35,000. Finally, Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin during the third quarter valued at $39,000. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 over the last quarter. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Price Performance

Shares of PH opened at $679.25 on Friday. Parker-Hannifin Co. has a 1-year low of $463.16 and a 1-year high of $712.42. The firm has a fifty day simple moving average of $668.38 and a two-hundred day simple moving average of $624.32. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a market cap of $87.43 billion, a PE ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.96 earnings per share. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 29.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PH shares. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. 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. Barclays lifted their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company cut their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $722.81.

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.