Flputnam Investment Management Co. Has $637,000 Position in Parker-Hannifin Co. (NYSE:PH)

Flputnam Investment Management Co. grew its stake in Parker-Hannifin Co. (NYSE:PH) by 17.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,382 shares of the industrial products company’s stock after purchasing an additional 207 shares during the period. Flputnam Investment Management Co.’s holdings in Parker-Hannifin were worth $637,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Baystate Wealth Management LLC raised its stake in Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares during the period. First Capital Advisors Group LLC. acquired a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $30,000. Oakworth Capital Inc. raised its stake in shares of Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.7 %

NYSE:PH opened at $540.44 on Thursday. The company’s 50 day moving average price is $539.64 and its 200-day moving average price is $470.64. Parker-Hannifin Co. has a 52 week low of $309.89 and a 52 week high of $570.15. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The stock has a market cap of $69.40 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.99 and a beta of 1.52.

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, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company posted $4.76 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Analyst Ratings Changes

PH has been the subject of several research analyst reports. 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 price objective for the company. KeyCorp upped 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. Evercore ISI increased 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. Barclays upped their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Thomas C. Gentile sold 2,978 shares of the firm’s 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 transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value 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 disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 in the last quarter. 1.03% of the stock is owned by corporate insiders.

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.