Parker-Hannifin Co. (NYSE:PH) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,614 shares of the industrial products company’s stock after selling 764 shares during the quarter. Leeward Investments LLC MA’s holdings in Parker-Hannifin were worth $13,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC boosted its holdings in Parker-Hannifin by 18.3% during the third quarter. DAVENPORT & Co LLC now owns 4,335 shares of the industrial products company’s stock worth $1,689,000 after buying an additional 671 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Parker-Hannifin by 104.9% during the third quarter. Meridian Wealth Management LLC now owns 2,094 shares of the industrial products company’s stock worth $816,000 after buying an additional 1,072 shares in the last quarter. Strategic Blueprint LLC purchased a new stake in Parker-Hannifin during the third quarter worth $284,000. Koshinski Asset Management Inc. boosted its holdings in Parker-Hannifin by 4.4% during the third quarter. Koshinski Asset Management Inc. now owns 1,747 shares of the industrial products company’s stock worth $680,000 after buying an additional 74 shares in the last quarter. Finally, Next Capital Management LLC lifted its holdings in Parker-Hannifin by 4.5% during the third quarter. Next Capital Management LLC now owns 1,045 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the 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 directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 over the last 90 days. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of PH opened at $553.48 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. Parker-Hannifin Co. has a 1 year low of $312.36 and a 1 year high of $570.15. The stock has a market capitalization of $71.07 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.01 and a beta of 1.52. The company’s fifty day moving average is $543.27 and its two-hundred day moving average is $477.71.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (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 company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm earned $4.76 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a $1.63 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.18%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PH shares. TD Cowen raised 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 report on Friday, March 1st. Stifel Nicolaus raised their price target 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. Barclays raised their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Evercore ISI raised 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. Finally, Truist Financial started 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. Four 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, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.