First Pacific Financial Trims Position in Parker-Hannifin Co. (NYSE:PH)

First Pacific Financial trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,254 shares of the industrial products company’s stock after selling 77 shares during the period. First Pacific Financial’s holdings in Parker-Hannifin were worth $1,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after acquiring an additional 190,889 shares in the last quarter. State Street Corp increased its position in shares of Parker-Hannifin by 0.8% during the second quarter. State Street Corp now owns 5,559,538 shares of the industrial products company’s stock worth $2,168,442,000 after acquiring an additional 41,684 shares during the last quarter. FMR LLC increased its holdings in Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. Invesco Ltd. grew its position in shares of Parker-Hannifin by 1.8% during the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after buying an additional 52,739 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Parker-Hannifin by 2.3% in the first quarter. Geode Capital Management LLC now owns 2,637,380 shares of the industrial products company’s stock valued at $884,432,000 after acquiring an additional 58,506 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $558.05 on Thursday. The stock has a market capitalization of $71.66 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.02 and a beta of 1.52. Parker-Hannifin Co. has a 12-month low of $308.26 and a 12-month high of $561.13. The firm’s 50 day moving average is $516.45 and its 200-day moving average is $452.96. 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 earnings results 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. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $4.76 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.2 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.31%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. KeyCorp lifted their price objective on shares of Parker-Hannifin from $500.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Evercore ISI upped their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Barclays lifted their price objective on shares of Parker-Hannifin from $500.00 to $558.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Truist Financial started coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $504.56.

Insider Activity

In related news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction 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 available through this hyperlink. In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated 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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock worth $6,099,566 in the last ninety days. Corporate insiders own 1.03% of the company’s stock.

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.