Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,458 shares of the industrial products company’s stock after acquiring an additional 39 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Parker-Hannifin were worth $672,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sapient Capital LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $1,392,000. abrdn plc increased its holdings in shares of Parker-Hannifin by 57.8% during the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after buying an additional 20,073 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at approximately $3,305,000. Independent Advisor Alliance increased its holdings in Parker-Hannifin by 8.3% in the 4th quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock valued at $7,479,000 after purchasing an additional 1,243 shares in the last quarter. Finally, 17 Capital Partners LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $2,271,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated 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 $2,305,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Berend Bracht sold 1,079 shares of the business’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 value of $592,209.15. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was 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. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Up 0.6 %

Shares of Parker-Hannifin stock traded up $3.26 during midday trading on Monday, reaching $529.83. 644,000 shares of the company’s stock traded hands, compared to its average volume of 611,975. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. Parker-Hannifin Co. has a 52 week low of $319.14 and a 52 week high of $570.15. The company’s 50 day simple moving average is $548.76 and its 200 day simple moving average is $501.41. The company has a market cap of $68.10 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.51.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the business earned $5.93 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. Parker-Hannifin’s payout ratio is presently 30.73%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Truist Financial restated a “buy” rating and issued a $611.00 price target on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Argus boosted their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Evercore ISI raised their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Bank of America raised their price target on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Mizuho increased their price target on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $560.20.

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.