Albert D Mason Inc. Reduces Holdings in Parker-Hannifin Co. (NYSE:PH)

Albert D Mason Inc. decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,793 shares of the industrial products company’s stock after selling 356 shares during the quarter. Parker-Hannifin makes up 1.6% of Albert D Mason Inc.’s investment portfolio, making the stock its 12th largest position. Albert D Mason Inc.’s holdings in Parker-Hannifin were worth $2,413,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new position in Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank grew its position in shares of Parker-Hannifin by 238.5% in 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 position in shares of 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 valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PH. TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. UBS Group began coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective for the company. Truist Financial increased their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays boosted their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $670.75 on Friday. The stock’s 50-day moving average is $671.45 and its 200 day moving average is $617.36. The stock has a market cap of $86.34 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $458.09 and a 1-year high of $712.42. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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 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 business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $5.96 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 over the last three months. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Company 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.