Parker-Hannifin Co. (NYSE:PH) Shares Sold by Monte Financial Group LLC

Monte Financial Group LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 1.9% during the 4th quarter, Holdings Channel reports. The fund owned 2,163 shares of the industrial products company’s stock after selling 42 shares during the quarter. Monte Financial Group LLC’s holdings in Parker-Hannifin were worth $1,376,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position 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 purchasing an additional 753,143 shares in the last quarter. FMR LLC raised its holdings in 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 purchasing an additional 272,531 shares during the last quarter. Geode Capital Management LLC lifted its stake in Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after buying an additional 29,408 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 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 purchasing an additional 59,432 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PH. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Barclays boosted their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Truist Financial raised their target price 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. UBS Group started coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective on the stock. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $722.81.

Insider Transactions at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $679.25 on Friday. Parker-Hannifin Co. has a 12-month low of $463.16 and a 12-month high of $712.42. The firm has a market capitalization of $87.43 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. The firm has a 50-day moving average price of $668.38 and a 200 day moving average price of $624.32. 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 posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.96 EPS. Research analysts anticipate that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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.