National Bank of Canada FI Purchases 61 Shares of Parker-Hannifin Co. (NYSE:PH)

National Bank of Canada FI boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,700 shares of the industrial products company’s stock after buying an additional 61 shares during the period. National Bank of Canada FI’s holdings in Parker-Hannifin were worth $17,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TCG Advisory Services LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $462,000. Red Cedar Investment Management LLC raised its position in Parker-Hannifin by 31.7% during the fourth quarter. Red Cedar Investment Management LLC now owns 9,420 shares of the industrial products company’s stock valued at $4,340,000 after purchasing an additional 2,265 shares in the last quarter. Legacy Financial Advisors Inc. lifted its stake in Parker-Hannifin by 11.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 812 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 85 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $1,324,000. Finally, Axxcess Wealth Management LLC increased its position in shares of Parker-Hannifin by 45.2% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,429 shares of the industrial products company’s stock valued at $658,000 after purchasing an additional 445 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.1 %

Shares of PH stock opened at $550.14 on Wednesday. Parker-Hannifin Co. has a 1 year low of $319.14 and a 1 year high of $570.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The company has a market cap of $70.64 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.94 and a beta of 1.51. The firm has a fifty day moving average price of $545.73 and a 200-day moving average price of $486.41.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $5.93 EPS. As a group, equities analysts predict that Parker-Hannifin Co. will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. Parker-Hannifin’s payout ratio is 27.90%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Mizuho raised their target price on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial raised their target price on shares of Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.56.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

About Parker-Hannifin

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.