Parker-Hannifin Corp (PH) Shares Sold by Belpointe Asset Management LLC
Belpointe Asset Management LLC trimmed its position in Parker-Hannifin Corp (NYSE:PH) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,950 shares of the industrial products company’s stock after selling 328 shares during the quarter. Belpointe Asset Management LLC’s holdings in Parker-Hannifin were worth $2,385,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of PH. Cubist Systematic Strategies LLC grew its stake in Parker-Hannifin by 154.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,820 shares of the industrial products company’s stock valued at $1,194,000 after buying an additional 4,135 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $713,000. Private Advisor Group LLC grew its stake in Parker-Hannifin by 58.2% in the 3rd quarter. Private Advisor Group LLC now owns 5,554 shares of the industrial products company’s stock valued at $984,000 after buying an additional 2,043 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in Parker-Hannifin by 28.1% in the 3rd quarter. Alyeska Investment Group L.P. now owns 603,491 shares of the industrial products company’s stock valued at $105,623,000 after buying an additional 132,381 shares during the last quarter. Finally, Strs Ohio grew its stake in Parker-Hannifin by 753.3% in the 4th quarter. Strs Ohio now owns 42,758 shares of the industrial products company’s stock valued at $8,533,000 after buying an additional 37,747 shares during the last quarter. 81.67% of the stock is currently owned by institutional investors.
Shares of Parker-Hannifin Corp (PH) opened at $179.46 on Thursday. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87. The stock has a market cap of $23,880.00, a P/E ratio of 21.01, a P/E/G ratio of 1.57 and a beta of 1.37. Parker-Hannifin Corp has a 52-week low of $151.17 and a 52-week high of $212.80.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 9th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.64 annualized dividend and a dividend yield of 1.47%. Parker-Hannifin’s dividend payout ratio is 30.91%.
A number of brokerages recently commented on PH. Wells Fargo & Co upped their price target on shares of Parker-Hannifin from $205.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Zacks Investment Research upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research note on Thursday, January 18th. Buckingham Research restated a “neutral” rating and set a $210.00 target price on shares of Parker-Hannifin in a research report on Friday, January 19th. They noted that the move was a valuation call. Stifel Nicolaus restated a “buy” rating and set a $245.00 target price (up previously from $218.00) on shares of Parker-Hannifin in a research report on Tuesday, January 16th. Finally, Cowen restated a “hold” rating and set a $180.00 target price on shares of Parker-Hannifin in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $202.75.
In related news, Director Joseph Scaminace sold 1,149 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $184.24, for a total transaction of $211,691.76. Following the sale, the director now owns 14,189 shares in the company, valued at approximately $2,614,181.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Roger S. Sherrard sold 2,109 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $182.12, for a total transaction of $384,091.08. Following the sale, the vice president now owns 51,865 shares in the company, valued at approximately $9,445,653.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,258 shares of company stock worth $780,753 in the last quarter. 1.12% of the stock is currently owned by company insiders.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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