Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Brighton Jones LLC

Brighton Jones LLC grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,808 shares of the industrial products company’s stock after purchasing an additional 101 shares during the quarter. Brighton Jones LLC’s holdings in Parker-Hannifin were worth $1,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PH. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. Bangor Savings Bank boosted its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter valued at $35,000. Finally, Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin during the third quarter worth about $39,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $722.81.

Parker-Hannifin Price Performance

PH opened at $679.25 on Friday. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42. The firm has a market cap of $87.43 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $668.77 and a 200 day simple moving average of $623.13.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $5.96 earnings per share. Equities research analysts expect that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

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.