Soltis Investment Advisors LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Soltis Investment Advisors LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 470 shares of the industrial products company’s stock, valued at approximately $216,000.

Several other large investors have also modified their holdings of PH. Cetera Advisor Networks LLC grew its position in shares of Parker-Hannifin by 8.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock worth $425,000 after buying an additional 112 shares during the last quarter. Panagora Asset Management Inc. grew its position in Parker-Hannifin by 69.8% during the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 1,591 shares during the last quarter. Prudential PLC purchased a new stake in Parker-Hannifin during the 1st quarter worth approximately $687,000. Moors & Cabot Inc. grew its position in Parker-Hannifin by 270.8% during the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after purchasing an additional 190,889 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $555.16 on Thursday. The company has a fifty day moving average of $535.87 and a two-hundred day moving average of $465.15. The stock has a market capitalization of $71.29 billion, a PE ratio of 27.48, a P/E/G ratio of 2.08 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.76 earnings per share. As a group, research analysts forecast that Parker-Hannifin Co. will post 24.25 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Analysts Set New Price Targets

PH has been the topic of several research analyst reports. Truist Financial initiated coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. KeyCorp boosted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $450.00 to $510.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

Insider Activity

In related news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were 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 owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were 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 directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 over the last three months. Insiders own 1.03% of the company’s stock.

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.