Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Simon Quick Advisors LLC

Simon Quick Advisors LLC boosted its position in Parker-Hannifin Co. (NYSE:PH) by 11.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 593 shares of the industrial products company’s stock after purchasing an additional 61 shares during the period. Simon Quick Advisors LLC’s holdings in Parker-Hannifin were worth $377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Red Spruce Capital LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $341,000. Howard Capital Management Group LLC bought a new stake in Parker-Hannifin in the fourth quarter worth about $23,390,000. Fort Washington Investment Advisors Inc. OH lifted its holdings in Parker-Hannifin by 11.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,644 shares of the industrial products company’s stock valued at $1,046,000 after acquiring an additional 164 shares during the last quarter. Atomi Financial Group Inc. boosted its position in shares of Parker-Hannifin by 53.3% during the 4th quarter. Atomi Financial Group Inc. now owns 1,125 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 391 shares in the last quarter. Finally, Charles Schwab Trust Co grew its stake in shares of Parker-Hannifin by 16.6% in the 4th quarter. Charles Schwab Trust Co now owns 1,646 shares of the industrial products company’s stock worth $1,047,000 after purchasing an additional 234 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.8 %

Parker-Hannifin stock opened at $679.86 on Friday. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $712.42. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $87.51 billion, a P/E ratio of 30.71, a P/E/G ratio of 2.78 and a beta of 1.45. The company’s fifty day simple moving average is $669.12 and its 200-day simple moving average is $622.74.

Parker-Hannifin (NYSE:PH) last issued 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. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s payout ratio is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

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

Analysts Set New Price Targets

PH has been the subject of several recent research reports. TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Truist Financial upped their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

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.