Graypoint LLC Has $735,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Graypoint LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,156 shares of the industrial products company’s stock after selling 62 shares during the period. Graypoint LLC’s holdings in Parker-Hannifin were worth $735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC lifted its position in Parker-Hannifin by 3.9% during the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 16 shares during the last quarter. Tilia Fiduciary Partners Inc. increased its holdings in shares of Parker-Hannifin by 0.7% during the 4th quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock worth $1,603,000 after purchasing an additional 18 shares during the period. Sonoma Private Wealth LLC increased its holdings in shares of Parker-Hannifin by 2.9% during the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 19 shares during the period. W Advisors LLC increased its holdings in shares of Parker-Hannifin by 3.4% during the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 19 shares during the period. Finally, Simmons Bank increased its holdings in shares of Parker-Hannifin by 0.7% during the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The sale 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 the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PH shares. Wolfe Research upgraded 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 report on Thursday, December 12th. 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 report on Tuesday, November 5th. Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $722.94.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $630.00 on Friday. 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 stock has a market capitalization of $81.09 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $453.18 and a 1-year high of $712.42. The firm’s 50-day moving average price is $673.28 and its two-hundred day moving average price is $613.33.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion for 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 company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.96 earnings per share. On average, equities analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio is 29.45%.

About Parker-Hannifin

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.