PFW Advisors LLC Makes New $847,000 Investment in Parker-Hannifin Co. (NYSE:PH)

PFW Advisors LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,331 shares of the industrial products company’s stock, valued at approximately $847,000.

A number of other hedge funds also recently added to or reduced their stakes in PH. West Branch Capital LLC purchased a new position in Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank boosted its holdings in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin in the 3rd quarter worth approximately $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PH shares. Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Robert W. Baird increased their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group lifted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays raised their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Mizuho upped their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $722.94.

Parker-Hannifin Price Performance

NYSE PH traded up $7.72 on Monday, hitting $637.76. The company had a trading volume of 470,907 shares, compared to its average volume of 535,123. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company’s fifty day moving average price is $673.28 and its 200-day moving average price is $614.87. The company has a market capitalization of $82.09 billion, a PE ratio of 28.81, a PEG ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a 12-month low of $453.18 and a 12-month high of $712.42.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Parker-Hannifin 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.