Parker-Hannifin Co. (NYSE:PH) Shares Bought by Keel Point LLC

Keel Point LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 842 shares of the industrial products company’s stock after buying an additional 25 shares during the period. Keel Point LLC’s holdings in Parker-Hannifin were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. OFI Invest Asset Management purchased a new position in Parker-Hannifin during the third quarter worth about $25,000. Baystate Wealth Management LLC raised its position in shares of Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares during the period. DHJJ Financial Advisors Ltd. acquired a new position in Parker-Hannifin in the third quarter valued at approximately $29,000. First Capital Advisors Group LLC. purchased a new position in Parker-Hannifin in the second quarter worth approximately $30,000. Finally, Oakworth Capital Inc. increased its stake in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 28 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent research reports. Stifel Nicolaus boosted 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. Barclays lifted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Evercore ISI boosted 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, 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 report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $544.21 on Wednesday. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. The company has a 50 day moving average price of $539.11 and a 200 day moving average price of $470.15. The firm has a market capitalization of $69.88 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.52. 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 (NYSE:PH) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business’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 company posted $4.76 earnings per share. Sell-side analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $1.48 per share. 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 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Insiders Place Their Bets

In related news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on 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 in the company, valued at $6,693,299.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 in the last quarter. Insiders own 1.03% of the company’s stock.

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.