Beaumont Financial Advisors LLC Reduces Position in Parker-Hannifin Co. (NYSE:PH)

Beaumont Financial Advisors LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,564 shares of the industrial products company’s stock after selling 90 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Parker-Hannifin were worth $721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PH. Vanguard Group Inc. lifted its stake in Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after acquiring an additional 190,889 shares in the last quarter. FMR LLC lifted its holdings in Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after buying an additional 324,063 shares in the last quarter. Invesco Ltd. grew its stake in shares of Parker-Hannifin by 1.8% in the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after acquiring an additional 52,739 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Parker-Hannifin by 2.3% in the first quarter. Geode Capital Management LLC now owns 2,637,380 shares of the industrial products company’s stock valued at $884,432,000 after acquiring an additional 58,506 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Parker-Hannifin by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock valued at $564,923,000 after purchasing an additional 24,977 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Truist Financial assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price for the company. Evercore ISI lifted their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Stifel Nicolaus boosted their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares in the company, valued at $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 in the last quarter. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Down 0.6 %

Shares of Parker-Hannifin stock opened at $534.65 on Friday. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The business’s fifty day moving average is $540.36 and its two-hundred day moving average is $472.15. The firm has a market cap of $68.65 billion, a PE ratio of 26.47, a P/E/G ratio of 1.97 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm earned $4.76 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

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.