Golden State Equity Partners Has $279,000 Stock Position in Parker-Hannifin Co. (NYSE:PH)

Golden State Equity Partners boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 9.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 605 shares of the industrial products company’s stock after buying an additional 54 shares during the period. Golden State Equity Partners’ holdings in Parker-Hannifin were worth $279,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its stake in Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after buying an additional 324,063 shares during the last quarter. Invesco Ltd. grew its stake in Parker-Hannifin by 1.8% in the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after buying an additional 52,739 shares during the last quarter. Northern Trust Corp grew its stake in Parker-Hannifin by 2.9% in the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock valued at $510,320,000 after buying an additional 36,744 shares during the last quarter. Alphinity Investment Management Pty Ltd grew its stake in Parker-Hannifin by 42.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after buying an additional 336,370 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in Parker-Hannifin by 7.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock valued at $244,136,000 after buying an additional 43,059 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the firm’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 transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Andrew D. Ross sold 3,904 shares of the firm’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 transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction 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 sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders 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 Price Performance

Shares of NYSE:PH opened at $553.64 on Friday. The company has a market cap of $71.09 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.03 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. The firm has a 50 day simple moving average of $543.27 and a 200 day simple moving average of $478.28. Parker-Hannifin Co. has a one year low of $312.36 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.76 EPS. Research analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business 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 $1.63 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.18%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. KeyCorp increased their target price on shares of 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 increased their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. The Goldman Sachs Group restated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Truist Financial initiated coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $515.38.

About Parker-Hannifin

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.