Beaumont Asset Management L.L.C. Has $1.42 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Beaumont Asset Management L.L.C. lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,071 shares of the industrial products company’s stock after acquiring an additional 24 shares during the period. Parker-Hannifin makes up about 1.0% of Beaumont Asset Management L.L.C.’s holdings, making the stock its 19th largest holding. Beaumont Asset Management L.L.C.’s holdings in Parker-Hannifin were worth $1,415,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PH. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in Parker-Hannifin by 0.7% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. raised its stake in shares of Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 25 shares during the period. Private Trust Co. NA increased its position in shares of Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after acquiring an additional 25 shares during the last quarter. Keel Point LLC increased its position in shares of Parker-Hannifin by 3.1% in the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock valued at $388,000 after acquiring an additional 25 shares during the last quarter. Finally, Caprock Group LLC increased its position in Parker-Hannifin by 1.8% during the fourth quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock worth $692,000 after buying an additional 26 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays boosted their price target on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Truist Financial assumed coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Evercore ISI increased their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Stock Performance

PH stock traded up $10.68 during midday trading on Tuesday, reaching $550.40. The stock had a trading volume of 355,000 shares, compared to its average volume of 583,549. The firm has a fifty day simple moving average of $540.79 and a two-hundred day simple moving average of $474.50. The stock has a market cap of $70.68 billion, a PE ratio of 26.72, a P/E/G ratio of 1.96 and a beta of 1.52. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Parker-Hannifin’s 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.