1,179 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,179 shares of the industrial products company’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin in the third quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin during the fourth quarter worth about $26,000. Baystate Wealth Management LLC grew its holdings in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 49 shares during the period. Oakworth Capital Inc. grew its holdings in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 28 shares during the period. Finally, ORG Partners LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth about $42,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI boosted their price target on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, Truist Financial assumed coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $515.38.

Parker-Hannifin Trading Down 0.8 %

Shares of PH stock traded down $4.24 on Wednesday, hitting $546.16. The stock had a trading volume of 267,488 shares, compared to its average volume of 580,887. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm has a market capitalization of $70.13 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.98 and a beta of 1.52. 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 price is $541.56 and its 200-day moving average price is $475.61.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.76 EPS. Analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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 dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.08%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock worth $6,099,566 in the last quarter. 1.03% of the stock is owned by company insiders.

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.