507 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Monument Capital Management

Monument Capital Management purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 507 shares of the industrial products company’s stock, valued at approximately $234,000.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $26,000. Baystate Wealth Management LLC grew its stake in Parker-Hannifin by 233.3% in 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 in the last quarter. Oakworth Capital Inc. grew its stake in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after buying an additional 28 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $42,000. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Barclays lifted their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI boosted their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Parker-Hannifin Stock Up 0.9 %

Shares of NYSE:PH opened at $539.72 on Tuesday. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15. The firm has a fifty day moving average of $540.79 and a 200 day moving average of $474.50. The firm has a market capitalization of $69.31 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.96 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 quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.76 earnings per share. As a group, research analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were 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 of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were 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 disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 over the last three months. Insiders own 1.03% of the company’s stock.

Parker-Hannifin 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.