Syon Capital LLC Raises Position in Parker-Hannifin Co. (NYSE:PH)

Syon Capital LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 7.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,057 shares of the industrial products company’s stock after purchasing an additional 73 shares during the period. Syon Capital LLC’s holdings in Parker-Hannifin were worth $487,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $26,000. OFI Invest Asset Management purchased a new stake in shares of Parker-Hannifin during the third quarter valued at about $25,000. Baystate Wealth Management LLC boosted its stake in Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. Oakworth Capital Inc. grew its stake in Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $42,000. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the business’s 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 directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PH shares. Truist Financial assumed coverage on Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price on the stock. The Goldman Sachs Group restated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Stifel Nicolaus raised their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. KeyCorp raised their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Stock Up 0.7 %

Shares of NYSE PH opened at $553.48 on Friday. The firm has a market cap of $71.07 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.01 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $543.27 and its two-hundred day moving average is $477.71. Parker-Hannifin Co. has a 52-week low of $312.36 and a 52-week high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations 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 last year, the business posted $4.76 EPS. Research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.31%.

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.