Sapient Capital LLC Invests $1.32 Million in Parker-Hannifin Co. (NYSE:PH)

Sapient Capital LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,873 shares of the industrial products company’s stock, valued at approximately $1,324,000.

A number of other hedge funds also recently bought and sold shares of the company. Beaumont Asset Management L.L.C. boosted its position in Parker-Hannifin by 0.8% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after purchasing an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC grew its stake in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after buying an additional 25 shares during the last quarter. M&R Capital Management Inc. increased its holdings in Parker-Hannifin by 25.0% during the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA grew its holdings in Parker-Hannifin by 0.7% during the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after acquiring an additional 25 shares during the last quarter. Finally, Keel Point LLC raised its position in Parker-Hannifin by 3.1% in the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 25 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Truist Financial raised their price target on Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research note on Friday. Barclays decreased their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a report on Friday. Finally, KeyCorp boosted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $523.94.

Parker-Hannifin Stock Up 1.0 %

Shares of PH traded up $5.50 during midday trading on Friday, reaching $536.18. 970,079 shares of the stock were exchanged, compared to its average volume of 601,506. The company has a current ratio of 0.87, a quick ratio of 0.49 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 52 week low of $319.14 and a 52 week high of $570.15. The company’s 50 day moving average is $544.86 and its two-hundred day moving average is $481.66. The company has a market capitalization of $68.85 billion, a P/E ratio of 25.27, a PEG ratio of 1.91 and a beta of 1.51.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $5.93 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 24.69 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is currently 27.90%.

Parker-Hannifin Company 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.