Western Financial Corp CA Has $821,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Western Financial Corp CA reduced its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,290 shares of the industrial products company’s stock after selling 38 shares during the quarter. Western Financial Corp CA’s holdings in Parker-Hannifin were worth $821,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PH. Clear Creek Financial Management LLC increased its holdings in shares of Parker-Hannifin by 14.0% during the fourth quarter. Clear Creek Financial Management LLC now owns 977 shares of the industrial products company’s stock valued at $621,000 after acquiring an additional 120 shares in the last quarter. Austin Private Wealth LLC grew its position in Parker-Hannifin by 5.6% in the 4th quarter. Austin Private Wealth LLC now owns 806 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 43 shares in the last quarter. Great Diamond Partners LLC increased its position in shares of Parker-Hannifin by 1.7% during the fourth quarter. Great Diamond Partners LLC now owns 1,670 shares of the industrial products company’s stock valued at $1,062,000 after acquiring an additional 28 shares during the last quarter. Caprock Group LLC raised its stake in shares of Parker-Hannifin by 24.9% during the 4th quarter. Caprock Group LLC now owns 4,100 shares of the industrial products company’s stock worth $2,608,000 after purchasing an additional 817 shares during the period. Finally, Turtle Creek Wealth Advisors LLC grew its position in shares of Parker-Hannifin by 0.5% during the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 10,248 shares of the industrial products company’s stock valued at $6,518,000 after acquiring an additional 47 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of several recent research reports. Robert W. Baird lifted their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial lifted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday. Finally, UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $725.06.

Parker-Hannifin Price Performance

PH stock opened at $707.91 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a 50 day moving average price of $666.84 and a 200-day moving average price of $629.60. Parker-Hannifin Co. has a 52-week low of $463.16 and a 52-week high of $718.44. The firm has a market capitalization of $91.12 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 2.73 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Equities research analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.92%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,200 shares of company stock worth $8,595,207. Corporate insiders own 0.39% of the company’s stock.

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.