Evexia Wealth LLC Has $11.34 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Evexia Wealth LLC raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,221 shares of the industrial products company’s stock after buying an additional 164 shares during the period. Parker-Hannifin comprises approximately 4.8% of Evexia Wealth LLC’s investment portfolio, making the stock its 4th biggest holding. Evexia Wealth LLC’s holdings in Parker-Hannifin were worth $11,340,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PH. OFI Invest Asset Management acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $26,000. Baystate Wealth Management LLC lifted its holdings in Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares during the last quarter. Oakworth Capital Inc. boosted its stake in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, Cherry Tree Wealth Management LLC grew its holdings in Parker-Hannifin by 44.6% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 81 shares of the industrial products company’s stock valued at $37,000 after buying an additional 25 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jay Reidy sold 572 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

PH stock traded down $0.65 during trading on Tuesday, reaching $550.14. 475,443 shares of the company were exchanged, compared to its average volume of 605,391. Parker-Hannifin Co. has a twelve month low of $319.14 and a twelve month high of $570.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The company has a market capitalization of $70.64 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.94 and a beta of 1.51. The company has a 50-day moving average of $545.73 and a two-hundred day moving average of $486.41.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.93 earnings per share. As a group, equities analysts predict that Parker-Hannifin Co. will post 24.62 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be paid a $1.63 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.19%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is currently 27.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PH. Truist Financial boosted their target price on shares of Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Argus boosted their price target on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company lowered their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Evercore ISI upped their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $539.56.

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.