Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Xponance Inc.

Xponance Inc. raised its stake in Parker-Hannifin Co. (NYSE:PH) by 3.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,098 shares of the industrial products company’s stock after buying an additional 477 shares during the period. Xponance Inc.’s holdings in Parker-Hannifin were worth $7,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Parker-Hannifin in the third quarter valued at about $25,000. Baystate Wealth Management LLC boosted its holdings in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Parker-Hannifin in the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. increased its holdings in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $42,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark J. Hart sold 5,197 shares of the 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 directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. KeyCorp raised their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI upped their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Truist Financial began coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Down 0.6 %

Shares of Parker-Hannifin stock opened at $534.65 on Friday. 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 Co. has a 52-week low of $309.89 and a 52-week high of $570.15. The company has a market capitalization of $68.65 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.97 and a beta of 1.52. The company has a 50 day moving average of $540.36 and a 200 day moving average of $472.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $4.76 earnings per share. As a group, research analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.11%. 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.