NewEdge Wealth LLC Sells 119 Shares of Parker-Hannifin Co. (NYSE:PH)

NewEdge Wealth LLC lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,788 shares of the industrial products company’s stock after selling 119 shares during the period. NewEdge Wealth LLC’s holdings in Parker-Hannifin were worth $2,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. increased its holdings in shares of Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after purchasing an additional 25 shares in the last quarter. Acropolis Investment Management LLC increased its holdings in shares of Parker-Hannifin by 4.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 563 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 26 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Parker-Hannifin by 1.8% in the 4th quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.0 %

Shares of NYSE PH opened at $550.32 on Monday. The business’s 50 day moving average is $537.77 and its two-hundred day moving average is $468.00. 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 Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The stock has a market capitalization of $70.67 billion, a P/E ratio of 27.24, a PEG ratio of 2.01 and a beta of 1.52.

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

Parker-Hannifin Announces Dividend

The firm also recently announced 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 dividend yield of 1.08%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Analyst Ratings Changes

PH has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI lifted 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. Wells Fargo & Company lifted their target price on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Truist Financial began coverage on Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. Finally, KeyCorp raised their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s 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 completion of 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 can be accessed through this link. In related news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred 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 owns 13,120 shares in the company, valued at $6,693,299.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the business’s 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 completion of the sale, the vice president now 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. Insiders sold 12,079 shares of company stock worth $6,099,566 over the last 90 days. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin 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.