Legacy Financial Advisors Inc. Purchases 85 Shares of Parker-Hannifin Co. (NYSE:PH)

Legacy Financial Advisors Inc. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 812 shares of the industrial products company’s stock after buying an additional 85 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Parker-Hannifin were worth $374,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PH. Beaumont Asset Management L.L.C. grew its position in Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after acquiring an additional 25 shares in the last quarter. M&R Capital Management Inc. raised its holdings 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 worth $58,000 after acquiring an additional 25 shares during the last quarter. Private Trust Co. NA lifted its position in Parker-Hannifin by 0.7% in the 4th 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 in the last quarter. Finally, Keel Point LLC boosted its stake in Parker-Hannifin by 3.1% during the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH traded up $5.50 during trading hours on Friday, hitting $536.18. The company’s stock had a trading volume of 970,079 shares, compared to its average volume of 601,506. The company has a market cap of $68.85 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.49. The business has a 50 day simple moving average of $544.96 and a two-hundred day simple moving average of $482.63. Parker-Hannifin Co. has a 52-week low of $319.14 and a 52-week high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.93 EPS. On average, equities analysts expect that Parker-Hannifin Co. will post 24.62 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.90%.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. Mizuho raised their target price on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday. Truist Financial lifted their price objective on shares of Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. KeyCorp raised their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Evercore ISI upped their price objective 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. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $523.94.

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.