Wedge Capital Management L L P NC Has $11.79 Million Position in Parker-Hannifin Corporation $PH

Wedge Capital Management L L P NC lessened its position in Parker-Hannifin Corporation (NYSE:PH) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,412 shares of the industrial products company’s stock after selling 2,432 shares during the period. Wedge Capital Management L L P NC’s holdings in Parker-Hannifin were worth $11,789,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PH. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter worth $25,000. Chilton Capital Management LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $29,000. Ameriflex Group Inc. raised its stake in Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after buying an additional 33 shares during the period. Morse Asset Management Inc raised its stake in Parker-Hannifin by 164.7% during the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after buying an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. bought a new position in Parker-Hannifin during the third quarter worth about $36,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PH. KeyCorp reissued an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Truist Financial set a $1,139.00 price target on Parker-Hannifin in a research report on Friday, January 30th. BMO Capital Markets started coverage on Parker-Hannifin in a research report on Friday. They issued an “outperform” rating and a $1,090.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,000.10.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. The trade was a 16.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer owned 20,610 shares in the company, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,063 shares of company stock valued at $9,891,214 in the last ninety days. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 1.5%

Parker-Hannifin stock opened at $887.73 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The company has a fifty day simple moving average of $954.93 and a 200 day simple moving average of $868.89. The company has a market cap of $112.05 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the previous year, the firm posted $6.53 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.