Courier Capital LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Courier Capital LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 439 shares of the industrial products company’s stock, valued at approximately $202,000.

A number of other hedge funds have also bought and sold shares of the business. OFI Invest Asset Management bought a new position in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its position in shares of Parker-Hannifin by 233.3% during the 3rd 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 in the last quarter. DHJJ Financial Advisors Ltd. bought a new position in shares of Parker-Hannifin in the third quarter worth $29,000. First Capital Advisors Group LLC. purchased a new stake in shares of Parker-Hannifin in the second quarter worth $30,000. Finally, Oakworth Capital Inc. boosted its stake 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 buying an additional 28 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 1.6 %

Shares of NYSE:PH opened at $558.05 on Thursday. Parker-Hannifin Co. has a 52-week low of $308.26 and a 52-week high of $561.13. The firm has a market capitalization of $71.66 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.02 and a beta of 1.52. The stock has a 50 day moving average price of $516.45 and a 200-day moving average price of $452.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business earned $4.76 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 24.2 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.31%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PH shares. Truist Financial assumed coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. KeyCorp boosted their price target on shares of Parker-Hannifin from $500.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and set a $588.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, March 5th. Finally, Barclays upped their target price on shares of Parker-Hannifin from $500.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $504.56.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated 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 directly owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 in the company, valued at approximately $2,741,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock valued at $6,099,566 over the last 90 days. 1.03% of the stock is currently owned by corporate insiders.

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.