Western Wealth Management LLC Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

Western Wealth Management LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,209 shares of the industrial products company’s stock after purchasing an additional 147 shares during the quarter. Western Wealth Management LLC’s holdings in Parker-Hannifin were worth $1,017,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PH. OFI Invest Asset Management purchased a new stake in Parker-Hannifin in the 3rd quarter worth about $25,000. Baystate Wealth Management LLC increased its holdings 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 worth $27,000 after acquiring an additional 49 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in Parker-Hannifin in the 2nd quarter worth about $30,000. Oakworth Capital Inc. increased its holdings in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 28 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth about $42,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was 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 owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,079 shares of company stock valued at $6,099,566. Company insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PH. Barclays lifted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Evercore ISI raised their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Truist Financial began coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target for the company. 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.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $534.65 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The business’s 50 day simple moving average is $540.36 and its two-hundred day simple moving average is $472.15. The stock has a market capitalization of $68.65 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 1.97 and a beta of 1.52. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm earned $4.76 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

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.