Moody Lynn & Lieberson LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Moody Lynn & Lieberson LLC boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,709 shares of the industrial products company’s stock after buying an additional 16 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Parker-Hannifin were worth $1,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank raised its stake in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin in the third quarter worth $39,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the sale, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $679.25 on Friday. The stock has a 50-day moving average price of $668.38 and a 200 day moving average price of $624.32. The stock has a market capitalization of $87.43 billion, a P/E ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 12-month low of $463.16 and a 12-month high of $712.42. The company has a current ratio of 0.96, a quick ratio of 0.57 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, beating 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 firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business posted $5.96 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.96%. Parker-Hannifin’s payout ratio is 29.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PH shares. Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. TD Cowen raised their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. UBS Group started coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $722.81.

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.