Bleakley Financial Group LLC Buys 64 Shares of Parker-Hannifin Co. (NYSE:PH)

Bleakley Financial Group LLC grew its stake in Parker-Hannifin Co. (NYSE:PH) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,531 shares of the industrial products company’s stock after purchasing an additional 64 shares during the period. Bleakley Financial Group LLC’s holdings in Parker-Hannifin were worth $1,166,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after acquiring an additional 190,889 shares during the period. FMR LLC boosted its holdings in Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after acquiring an additional 324,063 shares during the period. Invesco Ltd. boosted its holdings in Parker-Hannifin by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after acquiring an additional 52,739 shares during the period. Geode Capital Management LLC boosted its holdings in Parker-Hannifin by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 2,637,380 shares of the industrial products company’s stock valued at $884,432,000 after acquiring an additional 58,506 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Parker-Hannifin by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock valued at $564,923,000 after acquiring an additional 24,977 shares during the period. 82.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on 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 transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was 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 of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 0.1 %

Shares of NYSE:PH opened at $555.98 on Friday. The business’s 50-day moving average is $536.97 and its 200 day moving average is $465.78. Parker-Hannifin Co. has a 1 year low of $309.89 and a 1 year high of $570.15. The firm has a market capitalization of $71.39 billion, a P/E ratio of 27.52, a P/E/G ratio of 2.04 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49.

Parker-Hannifin (NYSE:PH) last announced its earnings results 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 company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the company posted $4.76 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Co. will post 24.25 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared 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 was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.06%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PH. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Truist Financial initiated coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price for the company. KeyCorp lifted their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Barclays lifted their target price on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $515.38.

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.