Financial Perspectives Inc Sells 45 Shares of Parker-Hannifin Co. (NYSE:PH)

Financial Perspectives Inc cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 25.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 130 shares of the industrial products company’s stock after selling 45 shares during the period. Financial Perspectives Inc’s holdings in Parker-Hannifin were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Sapient Capital LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at approximately $1,392,000. Turtle Creek Wealth Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter valued at $3,305,000. 17 Capital Partners LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $2,271,000. HMS Capital Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,225,000. Finally, RFG Advisory LLC boosted its holdings in shares of Parker-Hannifin by 417.3% during the fourth quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock worth $1,477,000 after purchasing an additional 2,587 shares during the period. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PH has been the topic of several research reports. Truist Financial started 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. The Goldman Sachs Group restated a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Evercore ISI upped their target price 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. Barclays raised their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Insiders Place Their Bets

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

Parker-Hannifin Stock Up 1.9 %

Shares of Parker-Hannifin stock traded up $10.52 during trading hours on Tuesday, hitting $550.24. The company had a trading volume of 375,725 shares, compared to its average volume of 584,863. The company has a market cap of $70.66 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52. The company’s 50-day moving average is $540.79 and its two-hundred day moving average is $474.50. 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 Co. has a twelve month low of $309.89 and a twelve month high of $570.15.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The company 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 business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $4.76 EPS. Analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $1.48 per share. 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 currently 29.31%.

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.