Parker-Hannifin Co. (NYSE:PH) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,050 shares of the industrial products company’s stock after selling 295 shares during the period. Larson Financial Group LLC’s holdings in Parker-Hannifin were worth $3,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PH. Sapient Capital LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $1,392,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $3,305,000. 17 Capital Partners LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $2,271,000. HMS Capital Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $1,225,000. Finally, RFG Advisory LLC raised its holdings in shares of Parker-Hannifin by 417.3% in the 4th quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock worth $1,477,000 after purchasing an additional 2,587 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.9 %

PH stock traded up $5.07 during midday trading on Monday, hitting $539.72. 533,126 shares of the company’s stock were exchanged, compared to its average volume of 587,819. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 12-month low of $309.89 and a 12-month high of $570.15. The firm has a 50 day moving average price of $540.79 and a 200-day moving average price of $474.50. The stock has a market capitalization of $69.31 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.89. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.76 EPS. On average, analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s payout ratio is 29.31%.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial assumed coverage on Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective on the stock. KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus raised their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Barclays raised their target price 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $515.38.

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.