510 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by OLD National Bancorp IN

OLD National Bancorp IN bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 510 shares of the industrial products company’s stock, valued at approximately $235,000.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $26,000. Baystate Wealth Management LLC increased its position in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. Oakworth Capital Inc. increased its position in Parker-Hannifin by 48.3% in the 3rd 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. Finally, ORG Partners LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.7 %

Parker-Hannifin stock opened at $553.48 on Friday. The company’s 50 day simple moving average is $543.27 and its 200 day simple moving average is $477.71. Parker-Hannifin Co. has a fifty-two week low of $312.36 and a fifty-two week high of $570.15. The firm has a market capitalization of $71.07 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.01 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 (NYSE:PH) last released 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 net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm earned $4.76 EPS. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.18%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin 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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin 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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock valued at $6,099,566 in the last 90 days. 1.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PH. The Goldman Sachs Group restated a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Truist Financial began coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI raised their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Barclays raised their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.