1,567 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Unique Wealth Strategies LLC

Unique Wealth Strategies LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, Holdings Channel.com reports. The firm acquired 1,567 shares of the industrial products company’s stock, valued at approximately $722,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Beaumont Asset Management L.L.C. lifted its position in Parker-Hannifin by 0.8% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after purchasing an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 0.7% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. M&R Capital Management Inc. lifted its holdings in shares of Parker-Hannifin by 25.0% in the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 25 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after acquiring an additional 25 shares during the last quarter. Finally, Keel Point LLC lifted its holdings in shares of Parker-Hannifin by 3.1% in the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the firm’s 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 completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Thomas C. Gentile sold 2,978 shares of the firm’s 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 completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock valued at $6,099,566 in the last quarter. 1.03% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Up 0.8 %

NYSE:PH traded up $4.26 on Friday, reaching $553.64. 548,739 shares of the stock traded hands, compared to its average volume of 492,829. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. The company’s 50 day moving average is $543.27 and its 200-day moving average is $477.71. 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 $312.36 and a 1-year high of $570.15.

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 analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.76 EPS. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PH shares. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays increased 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. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI increased 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. Finally, Truist Financial assumed coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $515.38.

Parker-Hannifin Company 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.