Xponance Inc. Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Xponance Inc. raised its position in Parker-Hannifin Co. (NYSE:PH) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,098 shares of the industrial products company’s stock after acquiring an additional 477 shares during the quarter. Xponance Inc.’s holdings in Parker-Hannifin were worth $7,416,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Baystate Wealth Management LLC boosted its holdings in 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 acquiring an additional 49 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in Parker-Hannifin during the 2nd quarter valued at $30,000. Oakworth Capital Inc. raised its holdings in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’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 sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin 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 sale, the executive vice president now owns 7,063 shares in the company, valued at $3,552,265.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock valued at $6,099,566 in the last 90 days. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PH shares. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Barclays lifted their price target on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group restated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, KeyCorp lifted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Stock Down 0.6 %

Shares of Parker-Hannifin stock opened at $534.65 on Friday. The company has a market cap of $68.65 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 1.97 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $540.36 and its 200 day moving average is $472.15. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The company had revenue of $4.82 billion for 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%. Parker-Hannifin’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.76 earnings per share. Research analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Parker-Hannifin 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.