Mitchell Mcleod Pugh & Williams Inc. Acquires Shares of 481 Parker-Hannifin Co. (NYSE:PH)

Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 481 shares of the industrial products company’s stock, valued at approximately $222,000.

Other large investors have also recently modified their holdings of the company. FMR LLC increased its stake in Parker-Hannifin by 9.6% during 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 purchasing an additional 324,063 shares in the last quarter. Invesco Ltd. raised its holdings 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 worth $1,134,069,000 after acquiring an additional 52,739 shares during the last quarter. Northern Trust Corp lifted its position 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 acquiring an additional 36,744 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its stake in Parker-Hannifin by 42.2% during 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 purchasing an additional 336,370 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of 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 worth $244,136,000 after purchasing an additional 43,059 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $554.44 on Tuesday. The business’s 50-day simple moving average is $543.95 and its two-hundred day simple moving average is $479.82. Parker-Hannifin Co. has a 52 week low of $318.32 and a 52 week high of $570.15. The stock has a market cap of $71.20 billion, a PE ratio of 27.45, a P/E/G ratio of 2.03 and a beta of 1.52. 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 (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company 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 earned $4.76 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced 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 yield of 1.18%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Analysts Set New Price Targets

Several research firms recently commented on PH. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial started coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price for the company. Finally, Barclays increased their price target on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction dated 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 approximately $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction 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 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 legal filing with the SEC, which is available at the SEC website. 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 sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,079 shares of company stock worth $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.