Graypoint LLC Has $426,000 Position in Parker-Hannifin Co. (NYSE:PH)

Graypoint LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 13.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 924 shares of the industrial products company’s stock after acquiring an additional 111 shares during the period. Graypoint LLC’s holdings in Parker-Hannifin were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PH. OFI Invest Asset Management acquired a new position in Parker-Hannifin during the third quarter worth $25,000. Baystate Wealth Management LLC raised its holdings in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. DHJJ Financial Advisors Ltd. acquired a new position in Parker-Hannifin during the third quarter worth $29,000. First Capital Advisors Group LLC. purchased a new stake in shares of Parker-Hannifin in the second quarter valued at about $30,000. Finally, Oakworth Capital Inc. raised its holdings 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 purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction 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 sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock worth $6,099,566 over the last three months. 1.03% of the stock is owned by insiders.

Parker-Hannifin Stock Down 1.0 %

NYSE PH opened at $550.32 on Monday. 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 company has a market capitalization of $70.67 billion, a P/E ratio of 27.24, a P/E/G ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. The stock has a 50 day moving average price of $537.77 and a 200-day moving average price of $468.00.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $4.76 earnings per share. As a group, equities analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Analyst Ratings Changes

Several brokerages have recently commented on PH. The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Barclays increased their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Truist Financial started coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target for the company. Finally, KeyCorp increased their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday. Four equities research 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, the stock currently has a consensus 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.