Parkside Financial Bank & Trust Buys 125 Shares of Parker-Hannifin Co. (NYSE:PH)

Parkside Financial Bank & Trust increased its stake in Parker-Hannifin Co. (NYSE:PH) by 49.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 379 shares of the industrial products company’s stock after acquiring an additional 125 shares during the period. Parkside Financial Bank & Trust’s holdings in Parker-Hannifin were worth $175,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PH. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Parker-Hannifin by 6.4% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190,553 shares of the industrial products company’s stock worth $88,512,000 after purchasing an additional 11,523 shares during the period. PDS Planning Inc purchased a new stake in Parker-Hannifin in the fourth quarter worth $230,000. Aspire Private Capital LLC increased its stake in Parker-Hannifin by 5.0% in the fourth quarter. Aspire Private Capital LLC now owns 1,999 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 95 shares during the period. Monument Capital Management purchased a new stake in Parker-Hannifin in the fourth quarter worth $234,000. Finally, Jennison Associates LLC increased its stake in Parker-Hannifin by 11.3% in the fourth quarter. Jennison Associates LLC now owns 290,500 shares of the industrial products company’s stock worth $133,833,000 after purchasing an additional 29,544 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

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

Parker-Hannifin (NYSE:PH) last posted its earnings results 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 company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.76 earnings per share. Research analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was 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 owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI raised their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the company from $300.00 to $500.00 in a research note on Friday, March 1st. KeyCorp raised their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Barclays raised their price target on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.