Knowledge Leaders Capital LLC Sells 98 Shares of Parker-Hannifin Co. (NYSE:PH)

Knowledge Leaders Capital LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096 shares of the industrial products company’s stock after selling 98 shares during the period. Knowledge Leaders Capital LLC’s holdings in Parker-Hannifin were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. DAVENPORT & Co LLC grew its stake in Parker-Hannifin by 18.3% during the third quarter. DAVENPORT & Co LLC now owns 4,335 shares of the industrial products company’s stock valued at $1,689,000 after acquiring an additional 671 shares in the last quarter. Meridian Wealth Management LLC grew its stake in shares of Parker-Hannifin by 104.9% in the 3rd quarter. Meridian Wealth Management LLC now owns 2,094 shares of the industrial products company’s stock worth $816,000 after buying an additional 1,072 shares in the last quarter. Strategic Blueprint LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth $284,000. Koshinski Asset Management Inc. grew its stake in shares of Parker-Hannifin by 4.4% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,747 shares of the industrial products company’s stock worth $680,000 after buying an additional 74 shares in the last quarter. Finally, Next Capital Management LLC grew its stake in shares of Parker-Hannifin by 4.5% in the 3rd quarter. Next Capital Management LLC now owns 1,045 shares of the industrial products company’s stock worth $407,000 after buying an additional 45 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Truist Financial initiated coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. Barclays lifted their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Evercore ISI lifted their price objective 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. Finally, TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Up 0.8 %

Shares of NYSE:PH traded up $4.26 during trading hours on Friday, hitting $553.64. The company’s stock had a trading volume of 548,739 shares, compared to its average volume of 492,829. Parker-Hannifin Co. has a 52 week low of $312.36 and a 52 week high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company has a market capitalization of $71.09 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 2.01 and a beta of 1.52. The firm’s fifty day moving average price is $543.27 and its 200 day moving average price is $477.71.

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

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 29.31%.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred 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 owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,079 shares of company stock valued at $6,099,566. Insiders own 1.03% of the company’s stock.

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.