Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 420.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,083 shares of the industrial products company’s stock after purchasing an additional 3,299 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Parker-Hannifin were worth $2,597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nilsine Partners LLC boosted its holdings in shares of Parker-Hannifin by 7.1% in the fourth quarter. Nilsine Partners LLC now owns 3,883 shares of the industrial products company’s stock valued at $2,470,000 after acquiring an additional 258 shares during the period. Foundations Investment Advisors LLC increased its stake in Parker-Hannifin by 2.2% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,515 shares of the industrial products company’s stock valued at $963,000 after purchasing an additional 33 shares during the period. Heirloom Wealth Management raised its holdings in shares of Parker-Hannifin by 6.9% in the fourth quarter. Heirloom Wealth Management now owns 15,233 shares of the industrial products company’s stock valued at $9,689,000 after buying an additional 981 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $629,000. Finally, Webster Bank N. A. grew its holdings in shares of Parker-Hannifin by 14.4% during the fourth quarter. Webster Bank N. A. now owns 254 shares of the industrial products company’s stock worth $162,000 after buying an additional 32 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, 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 directly owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Down 2.5 %

Parker-Hannifin stock opened at $662.54 on Tuesday. The firm has a market capitalization of $85.28 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth 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. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $712.42. The stock’s fifty day moving average is $668.38 and its two-hundred day moving average is $625.84.

Parker-Hannifin (NYSE:PHGet Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts predict that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 29.45%.

Analysts Set New Price Targets

Several analysts have commented on PH shares. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays boosted their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

Read Our Latest Analysis on Parker-Hannifin

About Parker-Hannifin

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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