GAMMA Investing LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

GAMMA Investing LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,179 shares of the industrial products company’s stock, valued at approximately $548,000.

Several other institutional investors have also made changes to their positions in the company. Beaumont Asset Management L.L.C. lifted its holdings in shares of Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after buying an additional 24 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Parker-Hannifin by 49.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 379 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 125 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Parker-Hannifin by 6.4% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190,553 shares of the industrial products company’s stock worth $88,512,000 after purchasing an additional 11,523 shares during the last quarter. PDS Planning Inc acquired a new stake in Parker-Hannifin in the 4th quarter worth approximately $230,000. Finally, Aspire Private Capital LLC lifted its holdings in Parker-Hannifin by 5.0% in the 4th quarter. Aspire Private Capital LLC now owns 1,999 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 95 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.8 %

Shares of PH traded down $4.24 during trading hours on Wednesday, hitting $546.16. 267,488 shares of the stock traded hands, compared to its average volume of 580,887. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The firm has a market capitalization of $70.13 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.98 and a beta of 1.52. The business has a fifty day moving average of $541.56 and a 200-day moving average of $475.61.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $4.76 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PH shares. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial assumed coverage on Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. KeyCorp boosted 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. Finally, The Goldman Sachs Group restated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the company’s 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 transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was 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 approximately $3,552,265.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated 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 in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. In the last three months, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by company insiders.

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.