Parkside Financial Bank & Trust Buys 125 Shares of Parker-Hannifin Co. (NYSE:PH)

Parkside Financial Bank & Trust grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 49.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 379 shares of the industrial products company’s stock after purchasing an additional 125 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Parker-Hannifin were worth $175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in Parker-Hannifin by 9.6% during the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the period. Invesco Ltd. lifted its holdings in shares of Parker-Hannifin by 1.8% in the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after buying an additional 52,739 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Parker-Hannifin by 2.9% in the third quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock worth $510,320,000 after buying an additional 36,744 shares in the last quarter. Alphinity Investment Management Pty Ltd lifted its holdings in shares of Parker-Hannifin by 42.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after buying an additional 336,370 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its stake in Parker-Hannifin by 7.4% in the third quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock valued at $244,136,000 after purchasing an additional 43,059 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction 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 sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PH shares. The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. KeyCorp lifted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Truist Financial began coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Stock Down 0.7 %

Shares of NYSE PH opened at $546.35 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 52 week low of $309.89 and a 52 week high of $570.15. The firm’s fifty day moving average is $542.05 and its 200 day moving average is $476.11. The company has a market cap of $70.16 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.01 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion for 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 quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.76 EPS. On average, equities research analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

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.