Janney Capital Management LLC Has $8.69 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Janney Capital Management LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,664 shares of the industrial products company’s stock after selling 482 shares during the period. Janney Capital Management LLC’s holdings in Parker-Hannifin were worth $8,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Wilkinson Global Asset Management LLC grew its position in shares of Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after buying an additional 14,526 shares during the period. Banco Santander S.A. increased its stake in shares of Parker-Hannifin by 11.9% in the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock valued at $9,147,000 after acquiring an additional 1,544 shares during the last quarter. FMR LLC raised its position in shares of Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after acquiring an additional 272,531 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in Parker-Hannifin by 88.4% during the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after acquiring an additional 691 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred on 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 directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last 90 days. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on PH shares. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Mizuho boosted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays increased their price target on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Stock Performance

Shares of PH opened at $679.35 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $712.42. The firm has a fifty day simple moving average of $669.77 and a 200 day simple moving average of $622.37. The stock has a market capitalization of $87.45 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 2.74 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the company earned $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

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.