SVB Wealth LLC Grows Stock Position in Parker-Hannifin Co. (NYSE:PH)

SVB Wealth LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 49.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,397 shares of the industrial products company’s stock after buying an additional 464 shares during the quarter. SVB Wealth LLC’s holdings in Parker-Hannifin were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Flputnam Investment Management Co. increased its stake in Parker-Hannifin by 17.6% during the fourth quarter. Flputnam Investment Management Co. now owns 1,382 shares of the industrial products company’s stock worth $637,000 after acquiring an additional 207 shares during the last quarter. Keel Point LLC increased its stake in Parker-Hannifin by 3.1% during the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 25 shares during the last quarter. Sentry Investment Management LLC increased its stake in Parker-Hannifin by 125.9% during the fourth quarter. Sentry Investment Management LLC now owns 1,692 shares of the industrial products company’s stock worth $779,000 after acquiring an additional 943 shares during the last quarter. Cornercap Investment Counsel Inc. grew its stake in shares of Parker-Hannifin by 3.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 5,396 shares of the industrial products company’s stock valued at $2,486,000 after buying an additional 171 shares in the last quarter. Finally, Waldron Private Wealth LLC grew its stake in shares of Parker-Hannifin by 9.1% in the fourth quarter. Waldron Private Wealth LLC now owns 778 shares of the industrial products company’s stock valued at $358,000 after buying an additional 65 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.6 %

NYSE:PH opened at $534.65 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $540.36 and its two-hundred day moving average is $472.15. Parker-Hannifin Co. has a 52 week low of $309.89 and a 52 week high of $570.15. The company has a market cap of $68.65 billion, a PE ratio of 26.47, a P/E/G ratio of 1.97 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 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.82 billion. During the same quarter last year, the business posted $4.76 EPS. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors 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 dividend on an annualized basis and a yield of 1.11%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Insider Activity at Parker-Hannifin

In related 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 approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 in the last 90 days. 1.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PH. Barclays increased their target price on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus increased their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. KeyCorp increased their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI increased their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. 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, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $515.38.

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.