TABR Capital Management LLC Makes New $463,000 Investment in Parker-Hannifin Co. (NYSE:PH)

TABR Capital Management LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 729 shares of the industrial products company’s stock, valued at approximately $463,000. Parker-Hannifin accounts for 0.4% of TABR Capital Management LLC’s portfolio, making the stock its 20th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Evergreen Capital Management LLC increased its holdings in shares of Parker-Hannifin by 3.3% during the second quarter. Evergreen Capital Management LLC now owns 692 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 22 shares during the period. Marshall Wace LLP acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth $23,600,000. AQR Capital Management LLC increased its position in shares of Parker-Hannifin by 52.2% in the second quarter. AQR Capital Management LLC now owns 78,768 shares of the industrial products company’s stock worth $39,841,000 after purchasing an additional 27,020 shares during the period. Employees Retirement System of Texas raised its stake in Parker-Hannifin by 17.2% in the second quarter. Employees Retirement System of Texas now owns 209,835 shares of the industrial products company’s stock valued at $106,137,000 after purchasing an additional 30,835 shares in the last quarter. Finally, Delta Investment Management LLC grew its stake in Parker-Hannifin by 4.4% during the second quarter. Delta Investment Management LLC now owns 523 shares of the industrial products company’s stock worth $265,000 after buying an additional 22 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of PH opened at $679.86 on Friday. The business has a 50-day moving average of $669.12 and a 200-day moving average of $622.74. Parker-Hannifin Co. has a 1 year low of $463.16 and a 1 year high of $712.42. The company has a market capitalization of $87.51 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. 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 posted its quarterly earnings data 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 net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $5.96 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PH shares. Truist Financial upped their price target 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. Argus upped their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group initiated coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective for the company. Finally, Barclays lifted their target price on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the business’s 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 completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. Company insiders own 0.39% of the company’s stock.

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.