Farmers Trust Co. Decreases Stake in Parker-Hannifin Co. (NYSE:PH)

Farmers Trust Co. lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,289 shares of the industrial products company’s stock after selling 109 shares during the quarter. Farmers Trust Co.’s holdings in Parker-Hannifin were worth $3,364,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of PH. Private Advisor Group LLC lifted its holdings in shares of Parker-Hannifin by 20.2% in the 2nd quarter. Private Advisor Group LLC now owns 5,277 shares of the industrial products company’s stock valued at $2,669,000 after buying an additional 885 shares during the period. Savant Capital LLC grew its stake in shares of Parker-Hannifin by 9.6% during the 2nd quarter. Savant Capital LLC now owns 2,928 shares of the industrial products company’s stock worth $1,481,000 after purchasing an additional 257 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Parker-Hannifin by 101.0% in the 2nd quarter. Acadian Asset Management LLC now owns 6,742 shares of the industrial products company’s stock valued at $3,406,000 after purchasing an additional 3,388 shares during the period. Caprock Group LLC grew its position in Parker-Hannifin by 87.6% during the second quarter. Caprock Group LLC now owns 2,986 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 1,394 shares during the period. Finally, Ballentine Partners LLC increased its holdings in Parker-Hannifin by 2.1% in the second quarter. Ballentine Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $704,000 after buying an additional 29 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred 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 owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 in the last 90 days. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 0.8 %

NYSE PH traded up $4.96 during trading hours on Wednesday, reaching $640.19. The company had a trading volume of 250,177 shares, compared to its average volume of 493,931. Parker-Hannifin Co. has a 1-year low of $449.89 and a 1-year high of $712.42. The stock has a market capitalization of $82.41 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. The stock has a 50-day moving average of $672.93 and a 200 day moving average of $612.10. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating 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 last year, the firm earned $5.96 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Analysts Set New Price Targets

A number of research firms have recently commented on PH. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays boosted their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. TD Cowen lifted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a research report on Monday, November 18th. Finally, KeyCorp lifted their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

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.