Focus Partners Wealth Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Focus Partners Wealth increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 120.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,185 shares of the industrial products company’s stock after purchasing an additional 7,742 shares during the period. Focus Partners Wealth’s holdings in Parker-Hannifin were worth $9,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock worth $6,903,962,000 after purchasing an additional 111,406 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after acquiring an additional 99,261 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after acquiring an additional 198,292 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Parker-Hannifin by 9.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock worth $1,282,294,000 after buying an additional 172,064 shares during the period. Finally, Norges Bank purchased a new position in Parker-Hannifin in the 4th quarter worth about $1,106,132,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on PH. Barclays reduced their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Truist Financial lowered their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $710.12.

Parker-Hannifin Stock Up 1.5%

PH stock opened at $678.54 on Wednesday. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The stock has a market capitalization of $86.70 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.85 and a beta of 1.36. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a 50-day simple moving average of $599.90 and a 200-day simple moving average of $646.17.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $6.51 EPS. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

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.