Tilt Investment Management Holdings PBC Lowers Position in Parker-Hannifin Co. (NYSE:PH)

Tilt Investment Management Holdings PBC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 23.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 520 shares of the industrial products company’s stock after selling 160 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Parker-Hannifin were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Parker-Hannifin during the third quarter worth about $25,000. Baystate Wealth Management LLC boosted its holdings in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in Parker-Hannifin during the second quarter worth about $30,000. Oakworth Capital Inc. boosted its holdings in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PH. The Goldman Sachs Group restated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. KeyCorp lifted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Truist Financial began coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $538.09 on Friday. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. 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 company has a 50 day moving average price of $540.09 and a 200 day moving average price of $471.11. The firm has a market capitalization of $69.10 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.52.

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

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction that occurred on 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 completion of 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 legal filing with the SEC, which is available through this link. In other Parker-Hannifin news, 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 $3,552,265.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the business’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 transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 12,079 shares of company stock valued at $6,099,566. Insiders own 1.03% of the company’s stock.

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.