Roman Butler Fullerton & Co. Reduces Stake in Parker-Hannifin Co. (NYSE:PH)

Roman Butler Fullerton & Co. lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,324 shares of the industrial products company’s stock after selling 44 shares during the period. Roman Butler Fullerton & Co.’s holdings in Parker-Hannifin were worth $1,568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PH. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Baystate Wealth Management LLC increased its position in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in Parker-Hannifin during the second quarter valued at $30,000. Oakworth Capital Inc. increased its position in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. KeyCorp raised their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Truist Financial started coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. Finally, Barclays raised their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Stock Performance

PH traded up $5.27 on Thursday, reaching $545.84. 36,536 shares of the stock were exchanged, compared to its average volume of 584,022. The company’s 50-day moving average price is $539.64 and its 200 day moving average price is $470.64. The firm has a market capitalization of $70.09 billion, a PE ratio of 26.75, a PEG ratio of 1.99 and a beta of 1.52. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week 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.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share 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 analyst estimates 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 was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $4.76 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Insider Activity at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, 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 owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock worth $6,099,566 in the last 90 days. Corporate insiders own 1.03% of the company’s stock.

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.