Veracity Capital LLC Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Veracity Capital LLC grew its stake in Parker-Hannifin Co. (NYSE:PH) by 15.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,320 shares of the industrial products company’s stock after acquiring an additional 177 shares during the period. Veracity Capital LLC’s holdings in Parker-Hannifin were worth $840,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. West Branch Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $25,000. Bangor Savings Bank boosted its stake 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 during the period. Prestige Wealth Management Group LLC boosted its stake 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 during the period. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth approximately $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.8 %

Shares of Parker-Hannifin stock opened at $679.86 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The company has a market capitalization of $87.51 billion, a P/E ratio of 30.71, a PEG ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 1 year low of $463.16 and a 1 year high of $712.42. The company’s fifty day moving average is $669.12 and its two-hundred day moving average is $622.74.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.90 billion. During the same quarter last year, the company posted $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PH shares. UBS Group started coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. Mizuho boosted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Truist Financial increased their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. KeyCorp lifted their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.