Silver Oak Securities Incorporated Acquires 1,266 Shares of Parker-Hannifin Co. (NYSE:PH)

Silver Oak Securities Incorporated increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 5,754.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,288 shares of the industrial products company’s stock after buying an additional 1,266 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Parker-Hannifin were worth $593,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PH. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Baystate Wealth Management LLC grew its stake in shares of Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares during the period. Oakworth Capital Inc. grew its stake in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, ORG Partners LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $42,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Stock Up 0.1 %

Shares of PH opened at $554.44 on Tuesday. The stock has a market capitalization of $71.20 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.03 and a beta of 1.52. Parker-Hannifin Co. has a 1 year low of $318.32 and a 1 year high of $570.15. The business’s 50 day simple moving average is $543.95 and its 200-day simple moving average is $479.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49.

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

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is currently 29.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Evercore ISI lifted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. 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 objective on the stock. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, KeyCorp lifted 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. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

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.