Janney Montgomery Scott LLC Acquires 2,803 Shares of Parker-Hannifin Co. (NYSE:PH)

Janney Montgomery Scott LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 6.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 47,164 shares of the industrial products company’s stock after buying an additional 2,803 shares during the period. Janney Montgomery Scott LLC’s holdings in Parker-Hannifin were worth $29,998,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the fourth quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin during the third quarter valued at approximately $39,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday. Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. KeyCorp raised their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Barclays raised their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, UBS Group assumed coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $722.81.

Parker-Hannifin Stock Down 0.1 %

PH stock opened at $679.25 on Friday. The firm has a market cap of $87.43 billion, a PE ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm’s fifty day moving average is $668.77 and its 200 day moving average is $623.13. Parker-Hannifin Co. has a one year low of $463.16 and a one year high of $712.42.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $5.96 earnings per share. On average, research analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

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.