Miracle Mile Advisors LLC Grows Stake in Parker-Hannifin Co. (NYSE:PH)

Miracle Mile Advisors LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 42.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,225 shares of the industrial products company’s stock after purchasing an additional 1,844 shares during the period. Miracle Mile Advisors LLC’s holdings in Parker-Hannifin were worth $3,959,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC lifted its position in shares of Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 16 shares in the last quarter. Tilia Fiduciary Partners Inc. raised its stake in Parker-Hannifin by 0.7% in the 4th quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock valued at $1,603,000 after purchasing an additional 18 shares during the last quarter. Sonoma Private Wealth LLC lifted its holdings in Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 19 shares in the last quarter. W Advisors LLC boosted its stake in Parker-Hannifin by 3.4% during the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 19 shares during the last quarter. Finally, Simmons Bank grew its holdings in shares of Parker-Hannifin by 0.7% during the third quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after buying an additional 19 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PH shares. KeyCorp boosted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird upped their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Stock Up 1.2 %

Parker-Hannifin stock opened at $637.76 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a 50 day moving average price of $673.28 and a 200 day moving average price of $615.81. Parker-Hannifin Co. has a fifty-two week low of $453.18 and a fifty-two week high of $712.42. The company has a market capitalization of $82.09 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the business earned $5.96 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

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.