Kingswood Wealth Advisors LLC Sells 108 Shares of Parker-Hannifin Co. (NYSE:PH)

Kingswood Wealth Advisors LLC lowered its holdings in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,850 shares of the industrial products company’s stock after selling 108 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $4,538,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. lifted its stake in shares of Parker-Hannifin by 32.8% in the fourth quarter. Pacer Advisors Inc. now owns 11,081 shares of the industrial products company’s stock worth $5,105,000 after buying an additional 2,734 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Parker-Hannifin by 2.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,509 shares of the industrial products company’s stock worth $24,191,000 after buying an additional 1,137 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $187,000. Raymond James & Associates raised its holdings in shares of Parker-Hannifin by 0.7% during the fourth quarter. Raymond James & Associates now owns 189,777 shares of the industrial products company’s stock valued at $87,430,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Richelieu Gestion SA raised its holdings in shares of Parker-Hannifin by 4.4% during the fourth quarter. Richelieu Gestion SA now owns 5,907 shares of the industrial products company’s stock valued at $2,721,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 over the last 90 days. 1.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PH. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Barclays upped their target price on shares of Parker-Hannifin from $500.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, February 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $588.00 target price on shares of Parker-Hannifin in a report on Tuesday, March 5th. Finally, Truist Financial began coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $504.56.

Check Out Our Latest Research Report on PH

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $550.72 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The firm has a fifty day moving average price of $512.87 and a 200 day moving average price of $450.98. Parker-Hannifin Co. has a fifty-two week low of $308.26 and a fifty-two week high of $561.13. The firm has a market cap of $70.72 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 2.04 and a beta of 1.52.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $4.76 earnings per share. Parker-Hannifin’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 24.2 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.07%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.31%.

About Parker-Hannifin

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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