Parker-Hannifin Co. (NYSE:PH) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 607 shares of the industrial products company’s stock after selling 38 shares during the quarter. Foster & Motley Inc.’s holdings in Parker-Hannifin were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Sapient Capital LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $1,392,000. Turtle Creek Wealth Advisors LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $3,305,000. 17 Capital Partners LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $2,271,000. HMS Capital Management LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $1,225,000. Finally, RFG Advisory LLC increased its stake in Parker-Hannifin by 417.3% in the fourth quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock valued at $1,477,000 after purchasing an additional 2,587 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PH shares. Evercore ISI raised their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. KeyCorp raised their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Finally, Barclays increased their target price on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $515.38.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the firm’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 directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $546.35 on Thursday. The firm has a market cap of $70.16 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. The business has a 50 day moving average price of $542.05 and a two-hundred day moving average price of $476.11. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15.

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

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.