Tyche Wealth Partners LLC Invests $205,000 in Parker-Hannifin Co. (NYSE:PH)

Tyche Wealth Partners LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 444 shares of the industrial products company’s stock, valued at approximately $205,000.

Other large investors have also recently made changes to their positions in the company. Sapient Capital LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $1,392,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $3,305,000. 17 Capital Partners LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $2,271,000. HMS Capital Management LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $1,225,000. Finally, RFG Advisory LLC boosted its holdings in shares of Parker-Hannifin by 417.3% in the fourth quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock worth $1,477,000 after buying an additional 2,587 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. Evercore ISI raised their price objective 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. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Barclays lifted their price target 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. Finally, Truist Financial assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $515.38.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. 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. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Down 0.5 %

Parker-Hannifin stock opened at $538.09 on Friday. The stock has a market cap of $69.10 billion, a P/E ratio of 26.64, a PEG ratio of 1.98 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 Co. has a 1 year low of $309.89 and a 1 year high of $570.15. The firm’s 50 day moving average price is $540.09 and its 200-day moving average price is $471.11.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations 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 last year, the business posted $4.76 earnings per share. On average, equities analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm 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. This represents a $5.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

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.