PDS Planning Inc Acquires Shares of 500 Parker-Hannifin Co. (NYSE:PH)

PDS Planning Inc acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 500 shares of the industrial products company’s stock, valued at approximately $230,000.

A number of other hedge funds have also added to or reduced their stakes in PH. Global Retirement Partners LLC raised its stake in Parker-Hannifin by 21.4% in the third quarter. Global Retirement Partners LLC now owns 680 shares of the industrial products company’s stock worth $262,000 after buying an additional 120 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Parker-Hannifin during the third quarter valued at about $271,000. DAVENPORT & Co LLC raised its holdings in Parker-Hannifin by 18.3% in the third quarter. DAVENPORT & Co LLC now owns 4,335 shares of the industrial products company’s stock worth $1,689,000 after purchasing an additional 671 shares in the last quarter. Park Place Capital Corp lifted its position in shares of Parker-Hannifin by 34.8% during the third quarter. Park Place Capital Corp now owns 662 shares of the industrial products company’s stock valued at $258,000 after buying an additional 171 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 104.9% in the 3rd quarter. Meridian Wealth Management LLC now owns 2,094 shares of the industrial products company’s stock valued at $816,000 after buying an additional 1,072 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 1.9 %

NYSE:PH opened at $550.24 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company’s fifty day moving average price is $541.56 and its 200-day moving average price is $475.61. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The firm has a market capitalization of $70.66 billion, a P/E ratio of 27.24, a PEG ratio of 1.98 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.76 EPS. As a group, equities research 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 issued 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 1.08%. Parker-Hannifin’s payout ratio is currently 29.31%.

Analysts Set New Price Targets

A number of research firms recently commented on PH. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Evercore ISI upped their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Stifel Nicolaus raised their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Truist Financial began coverage on Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Activity at Parker-Hannifin

In other 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 sale, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock valued at $6,099,566 in the last ninety days. Insiders own 1.03% of the company’s stock.

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.