Parker-Hannifin Co. (NYSE:PH) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its stake in Parker-Hannifin Co. (NYSE:PH) by 1.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,935 shares of the industrial products company’s stock after selling 126 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Parker-Hannifin were worth $4,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PH. Franklin Resources Inc. increased its position in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Wilkinson Global Asset Management LLC raised its stake in shares of Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after acquiring an additional 14,526 shares during the period. Banco Santander S.A. lifted its holdings in shares of Parker-Hannifin by 11.9% in the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock worth $9,147,000 after acquiring an additional 1,544 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Parker-Hannifin by 88.4% during the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 691 shares during the period. Finally, FMR LLC raised its position in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.3 %

Parker-Hannifin stock opened at $654.32 on Thursday. Parker-Hannifin Co. has a 52 week low of $453.18 and a 52 week high of $712.42. The stock has a 50-day moving average price of $673.15 and a 200 day moving average price of $616.80. The stock has a market cap of $84.22 billion, a PE ratio of 29.55, a P/E/G ratio of 2.54 and a beta of 1.45. 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 announced 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 return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the business earned $5.96 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s payout ratio is currently 29.45%.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PH shares. UBS Group started coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Barclays increased their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Truist Financial upped their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $722.94.

Parker-Hannifin 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.