Goelzer Investment Management Inc. Invests $593,000 in Parker-Hannifin Corporation $PH

Goelzer Investment Management Inc. acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 675 shares of the industrial products company’s stock, valued at approximately $593,000.

A number of other hedge funds also recently made changes to their positions in the stock. ING Groep NV bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $26,398,000. Procyon Advisors LLC boosted its holdings in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the period. Citigroup Inc. increased its stake in Parker-Hannifin by 54.7% in the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after buying an additional 56,103 shares in the last quarter. Wilkinson Global Asset Management LLC increased its stake in Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after buying an additional 10,653 shares in the last quarter. Finally, Advisors Capital Management LLC raised its holdings in Parker-Hannifin by 140.0% during the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock valued at $1,693,000 after acquiring an additional 1,302 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 0.1%

Shares of Parker-Hannifin stock opened at $887.73 on Monday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $954.93 and a 200-day moving average price of $869.62. The firm has a market cap of $112.05 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.86 and a beta of 1.23.

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

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PH shares. BMO Capital Markets initiated coverage on Parker-Hannifin in a research report on Friday. They issued an “outperform” rating and a $1,090.00 price objective on the stock. Jefferies Financial Group increased their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Truist Financial set a $1,139.00 price target on Parker-Hannifin in a research note on Friday, January 30th. Finally, Morgan Stanley increased their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,000.10.

Insider Activity

In related news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Company Profile

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.