Monument Capital Management Buys New Stake in Parker-Hannifin Co. (NYSE:PH)

Monument Capital Management bought a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, Holdings Channel reports. The institutional investor bought 507 shares of the industrial products company’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $26,000. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth $25,000. Baystate Wealth Management LLC grew its stake in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. Oakworth Capital Inc. grew its stake in shares of Parker-Hannifin by 48.3% in 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 in the last quarter. Finally, ORG Partners LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $42,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.9 %

Shares of PH opened at $539.72 on Tuesday. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The company has a 50-day moving average of $540.79 and a 200 day moving average of $474.50. The firm has a market capitalization of $69.31 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS 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 analyst estimates of $4.82 billion. During the same quarter in the previous year, the business posted $4.76 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PH shares. Barclays raised their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Truist Financial started 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 raised their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, TD Cowen upgraded shares of 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 report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

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.