First Affirmative Financial Network Sells 120 Shares of Parker-Hannifin Co. (NYSE:PH)

First Affirmative Financial Network trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 26.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332 shares of the industrial products company’s stock after selling 120 shares during the quarter. First Affirmative Financial Network’s holdings in Parker-Hannifin were worth $211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Parker-Hannifin by 2.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 2,450 shares of the industrial products company’s stock valued at $1,239,000 after buying an additional 64 shares during the period. Cetera Investment Advisers raised its stake in shares of Parker-Hannifin by 7.6% in the 2nd quarter. Cetera Investment Advisers now owns 48,575 shares of the industrial products company’s stock valued at $24,570,000 after purchasing an additional 3,451 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Parker-Hannifin by 52.5% in the second quarter. Clearbridge Investments LLC now owns 4,040 shares of the industrial products company’s stock valued at $2,043,000 after purchasing an additional 1,390 shares in the last quarter. Creekside Partners acquired a new position in shares of Parker-Hannifin during the second quarter worth about $207,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Parker-Hannifin during the second quarter worth about $17,981,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PH shares. TD Cowen upped their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Argus lifted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Mizuho raised their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus dropped their target price on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Stock Up 5.7 %

Parker-Hannifin stock opened at $704.04 on Friday. The company’s 50-day moving average price is $666.79 and its two-hundred day moving average price is $627.94. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $90.62 billion, a P/E ratio of 31.80, a P/E/G ratio of 2.73 and a beta of 1.45. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. As a group, analysts expect that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is 29.45%.

Insider Buying and Selling

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,200 shares of company stock valued at $8,595,207. 0.39% of the stock is owned by company insiders.

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.