Foster & Motley Inc. Sells 38 Shares of Parker-Hannifin Co. (NYSE:PH)

Foster & Motley Inc. cut its position in Parker-Hannifin Co. (NYSE:PH) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 607 shares of the industrial products company’s stock after selling 38 shares during the quarter. Foster & Motley Inc.’s holdings in Parker-Hannifin were worth $280,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Monument Capital Management acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $234,000. Jennison Associates LLC increased its holdings in shares of Parker-Hannifin by 11.3% during the fourth quarter. Jennison Associates LLC now owns 290,500 shares of the industrial products company’s stock valued at $133,833,000 after acquiring an additional 29,544 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $235,000. CWM LLC increased its holdings in shares of Parker-Hannifin by 22.9% during the fourth quarter. CWM LLC now owns 3,710 shares of the industrial products company’s stock valued at $1,709,000 after acquiring an additional 692 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Parker-Hannifin by 22.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,065 shares of the industrial products company’s stock valued at $10,165,000 after acquiring an additional 4,027 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was 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 of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus upped their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. KeyCorp upped their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Truist Financial initiated coverage on Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price on the stock. Finally, TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their target price for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Trading Down 0.7 %

Shares of NYSE:PH opened at $546.35 on Thursday. Parker-Hannifin Co. has a 1 year low of $309.89 and a 1 year high of $570.15. The firm has a market capitalization of $70.16 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. 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 business’s 50 day moving average price is $542.05 and its 200-day moving average price is $476.11.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm posted $4.76 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

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.