Certuity LLC Purchases New Stake in Parker-Hannifin Co. (NYSE:PH)

Certuity LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,614 shares of the industrial products company’s stock, valued at approximately $744,000.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its stake in Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after buying an additional 324,063 shares during the last quarter. Invesco Ltd. increased its stake in shares of Parker-Hannifin by 1.8% during the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after purchasing an additional 52,739 shares during the period. Northern Trust Corp lifted its holdings in Parker-Hannifin by 2.9% during the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock worth $510,320,000 after purchasing an additional 36,744 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its stake in Parker-Hannifin by 42.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after purchasing an additional 336,370 shares during the period. Finally, Kestra Advisory Services LLC grew its holdings in Parker-Hannifin by 7.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock valued at $244,136,000 after buying an additional 43,059 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

PH stock opened at $544.91 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. Parker-Hannifin Co. has a 52-week low of $318.32 and a 52-week high of $570.15. The company has a market capitalization of $69.97 billion, a P/E ratio of 26.98, a PEG ratio of 2.03 and a beta of 1.52. The company has a fifty day moving average price of $544.46 and a 200-day moving average price of $480.89.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value 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 $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 over the last 90 days. Company insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PH. Barclays raised their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Evercore ISI increased their price target on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. KeyCorp increased 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. Finally, TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.