Princeton Global Asset Management LLC Sells 2,954 Shares of Parker-Hannifin Co. (NYSE:PH)

Princeton Global Asset Management LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 97.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 86 shares of the industrial products company’s stock after selling 2,954 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Parker-Hannifin were worth $55,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PH. West Branch Capital LLC bought a new stake in Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $39,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

NYSE:PH opened at $696.57 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a fifty day simple moving average of $666.84 and a two-hundred day simple moving average of $630.54. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a market capitalization of $89.66 billion, a P/E ratio of 28.83, a P/E/G ratio of 2.90 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Analysts Set New Price Targets

PH has been the topic of several research analyst reports. Mizuho increased their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial increased their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Robert W. Baird increased their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $725.06.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,200 shares of company stock worth $8,595,207. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin 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.