Parker-Hannifin Co. (NYSE:PH) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its position in Parker-Hannifin Co. (NYSE:PH) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,262 shares of the industrial products company’s stock after selling 553 shares during the quarter. Parker-Hannifin comprises approximately 1.0% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 19th biggest holding. Marks Group Wealth Management Inc’s holdings in Parker-Hannifin were worth $8,413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PH. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $26,000. Baystate Wealth Management LLC increased its stake in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. Oakworth Capital Inc. increased its position in shares of Parker-Hannifin by 48.3% in the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after buying an additional 28 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research analyst reports. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Barclays raised their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Truist Financial assumed coverage on Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. Evercore ISI increased their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $515.38.

Insider Buying and Selling

In related news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at $3,552,265.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares in the company, valued at $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 in the last ninety days. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Up 0.9 %

Parker-Hannifin stock traded up $5.07 during trading on Monday, hitting $539.72. The company had a trading volume of 533,126 shares, compared to its average volume of 587,819. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The company’s 50 day simple moving average is $540.79 and its 200-day simple moving average is $474.50. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The stock has a market cap of $69.31 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) 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 firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the business earned $4.76 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s payout ratio is currently 29.31%.

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.