Romano Brothers AND Company Sells 437 Shares of Parker-Hannifin Co. (NYSE:PH)

Romano Brothers AND Company decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 966 shares of the industrial products company’s stock after selling 437 shares during the period. Romano Brothers AND Company’s holdings in Parker-Hannifin were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in Parker-Hannifin during the third quarter valued at approximately $25,000. Baystate Wealth Management LLC raised its stake in Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares during the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in Parker-Hannifin in the third quarter worth about $29,000. First Capital Advisors Group LLC. purchased a new stake in shares of Parker-Hannifin during the second quarter worth about $30,000. Finally, Oakworth Capital Inc. increased its holdings in shares of Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $550.32 on Monday. The business’s 50 day moving average price is $537.77 and its 200-day moving average price is $468.00. Parker-Hannifin Co. has a 1 year low of $309.89 and a 1 year high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm has a market capitalization of $70.67 billion, a PE ratio of 27.24, a P/E/G ratio of 2.01 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last released its 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 business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.76 earnings per share. As a group, equities research analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial started coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Evercore ISI raised their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $515.38.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s 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 completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $1,494,122.16. Following the sale, the vice president now directly 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 12,079 shares of company stock worth $6,099,566 over the last ninety days. Corporate insiders own 1.03% of the company’s stock.

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.