LVM Capital Management Ltd. MI Invests $222,000 in Parker-Hannifin Co. (NYSE:PH)

LVM Capital Management Ltd. MI acquired a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 349 shares of the industrial products company’s stock, valued at approximately $222,000.

Other hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter worth about $25,000. Bangor Savings Bank raised its position in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin in the fourth quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the third quarter valued at about $39,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the 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 transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 over the last ninety days. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research note on Thursday, December 12th. Jefferies Financial Group increased their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays boosted their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Truist Financial boosted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Trading Down 1.8 %

Parker-Hannifin stock opened at $630.00 on Friday. The firm has a 50-day moving average of $673.28 and a 200-day moving average of $613.33. Parker-Hannifin Co. has a one year low of $453.18 and a one year high of $712.42. 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 has a market cap of $81.09 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.71 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.96 earnings per share. On average, equities analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.