Flputnam Investment Management Co. Raises Position in Parker-Hannifin Co. (NYSE:PH)

Flputnam Investment Management Co. raised its stake in Parker-Hannifin Co. (NYSE:PH) by 17.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,382 shares of the industrial products company’s stock after buying an additional 207 shares during the quarter. Flputnam Investment Management Co.’s holdings in Parker-Hannifin were worth $637,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PH. Keel Point LLC grew its position 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 valued at $388,000 after purchasing an additional 25 shares in the last quarter. Sentry Investment Management LLC lifted its stake in shares of Parker-Hannifin by 125.9% in the 4th quarter. Sentry Investment Management LLC now owns 1,692 shares of the industrial products company’s stock valued at $779,000 after acquiring an additional 943 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of Parker-Hannifin by 3.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 5,396 shares of the industrial products company’s stock valued at $2,486,000 after acquiring an additional 171 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in Parker-Hannifin by 9.1% during the 4th quarter. Waldron Private Wealth LLC now owns 778 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 65 shares during the period. Finally, S. R. Schill & Associates increased its holdings in Parker-Hannifin by 7.5% during the 4th quarter. S. R. Schill & Associates now owns 1,059 shares of the industrial products company’s stock valued at $488,000 after purchasing an additional 74 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 0.7 %

Shares of NYSE:PH opened at $540.44 on Thursday. 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 12 month low of $309.89 and a 12 month high of $570.15. The company has a 50-day moving average price of $539.64 and a 200 day moving average price of $470.64. The company has a market cap of $69.40 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.99 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $4.76 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s payout ratio is 29.31%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value 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 $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value 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 $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock valued at $6,099,566. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays upped their target price on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Truist Financial began coverage on Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective on the stock. Evercore ISI increased their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $515.38.

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.