555 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Ledyard National Bank

Ledyard National Bank acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 555 shares of the industrial products company’s stock, valued at approximately $256,000.

A number of other hedge funds have also made changes to their positions in PH. OFI Invest Asset Management acquired a new stake in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $26,000. Baystate Wealth Management LLC grew its position in shares of Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares during the period. Oakworth Capital Inc. grew its position in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares during the period. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The shares were 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 $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction 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 ninety days, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by insiders.

Parker-Hannifin Stock Down 1.2 %

Shares of Parker-Hannifin stock traded down $6.83 during trading hours on Tuesday, reaching $547.61. The company’s stock had a trading volume of 141,450 shares, compared to its average volume of 578,521. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock’s fifty day simple moving average is $543.95 and its two-hundred day simple moving average is $479.82. The company has a market capitalization of $70.32 billion, a P/E ratio of 27.45, a P/E/G ratio of 2.03 and a beta of 1.52. Parker-Hannifin Co. has a one year low of $318.32 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.76 earnings per share. On average, research analysts forecast that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is presently 29.31%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. KeyCorp boosted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Evercore ISI raised their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

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.