Sax Wealth Advisors LLC Acquires 452 Shares of Parker-Hannifin Co. (NYSE:PH)

Sax Wealth Advisors LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 43.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,483 shares of the industrial products company’s stock after purchasing an additional 452 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $943,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PH. CVA Family Office LLC boosted its stake in Parker-Hannifin by 3.9% in the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 16 shares during the period. Everpar Advisors LLC lifted its position in Parker-Hannifin by 1.3% during the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 17 shares during the period. Tilia Fiduciary Partners Inc. lifted its holdings in shares of Parker-Hannifin by 0.7% during the 4th quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock worth $1,603,000 after acquiring an additional 18 shares during the period. Sonoma Private Wealth LLC raised its position in Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 19 shares in the last quarter. Finally, W Advisors LLC lifted its position in shares of Parker-Hannifin by 3.4% during the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after buying an additional 19 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. KeyCorp upped their target price on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen upped their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $670.75 on Friday. The business has a 50-day moving average price of $671.45 and a two-hundred day moving average price of $617.36. Parker-Hannifin Co. has a 1-year low of $458.09 and a 1-year high of $712.42. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a market cap of $86.34 billion, a P/E ratio of 30.30, a PEG ratio of 2.54 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the firm posted $5.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. Company insiders own 0.39% of the company’s stock.

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.