Montecito Bank & Trust Has $985,000 Stock Holdings in Parker-Hannifin Corporation $PH

Montecito Bank & Trust decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 43.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,121 shares of the industrial products company’s stock after selling 855 shares during the period. Montecito Bank & Trust’s holdings in Parker-Hannifin were worth $985,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Procyon Advisors LLC grew its stake in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Parker-Hannifin by 0.6% in the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after purchasing an additional 22,706 shares in the last quarter. Capital World Investors boosted its holdings in Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after purchasing an additional 169,073 shares during the last quarter. Invesco Ltd. boosted its holdings in Parker-Hannifin by 1.8% during the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after purchasing an additional 41,221 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after purchasing an additional 13,309 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group increased their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 30th. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research note on Thursday, January 29th. Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a report on Friday, January 30th. BNP Paribas Exane initiated coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price for the company. Finally, KeyCorp restated an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $906.47 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $957.53 and its two-hundred day moving average price is $865.45. The company has a market cap of $114.41 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.88 and a beta of 1.23. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same period in the previous year, the business earned $6.53 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.