Lafayette Investments Inc. Sells 200 Shares of Parker-Hannifin Co. (NYSE:PH)

Lafayette Investments Inc. lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,817 shares of the industrial products company’s stock after selling 200 shares during the quarter. Parker-Hannifin accounts for about 1.2% of Lafayette Investments Inc.’s investment portfolio, making the stock its 25th biggest position. Lafayette Investments Inc.’s holdings in Parker-Hannifin were worth $4,983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fidelis Capital Partners LLC increased its stake in Parker-Hannifin by 36.8% in the fourth quarter. Fidelis Capital Partners LLC now owns 832 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 224 shares during the period. Western Wealth Management LLC grew its stake in Parker-Hannifin by 7.1% during the fourth quarter. Western Wealth Management LLC now owns 2,209 shares of the industrial products company’s stock worth $1,017,000 after buying an additional 147 shares during the last quarter. Xponance Inc. grew its stake in Parker-Hannifin by 3.1% during the fourth quarter. Xponance Inc. now owns 16,098 shares of the industrial products company’s stock worth $7,416,000 after buying an additional 477 shares during the last quarter. Federated Hermes Inc. grew its stake in Parker-Hannifin by 30.7% during the fourth quarter. Federated Hermes Inc. now owns 52,740 shares of the industrial products company’s stock worth $24,297,000 after buying an additional 12,398 shares during the last quarter. Finally, Wright Investors Service Inc. bought a new stake in Parker-Hannifin during the fourth quarter worth about $458,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.0 %

NYSE PH traded up $0.21 on Friday, hitting $538.30. The company’s stock had a trading volume of 133,863 shares, compared to its average volume of 582,814. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The company’s 50-day moving average is $540.09 and its 200 day moving average is $471.11. The firm has a market cap of $69.12 billion, a PE ratio of 26.64, a PEG ratio of 1.98 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company posted $4.76 earnings per share. Parker-Hannifin’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s payout ratio is 29.31%.

Insiders Place Their Bets

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 shares were 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 directly owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price target for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Truist Financial started coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $515.38.

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.