Parker-Hannifin Co. (NYSE:PH) is Running Oak Capital LLC’s 9th Largest Position

Running Oak Capital LLC boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,494 shares of the industrial products company’s stock after acquiring an additional 362 shares during the period. Parker-Hannifin comprises approximately 2.0% of Running Oak Capital LLC’s portfolio, making the stock its 9th largest position. Running Oak Capital LLC’s holdings in Parker-Hannifin were worth $14,943,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the period. FMR LLC increased its stake in shares of Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after acquiring an additional 272,531 shares during the period. Geode Capital Management LLC increased its stake in shares of Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after acquiring an additional 29,408 shares during the period. Wellington Management Group LLP increased its stake in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after acquiring an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after acquiring an additional 59,432 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $679.25 on Friday. Parker-Hannifin Co. has a 52-week low of $463.16 and a 52-week high of $712.42. The firm has a fifty day moving average of $668.38 and a 200-day moving average of $624.32. The firm has a market capitalization of $87.43 billion, a P/E ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the business earned $5.96 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,077 shares of company stock valued at $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Stifel Nicolaus decreased their price objective on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating on the stock in a report on Friday. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $722.81.

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.