Ethic Inc. Has $7.41 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Ethic Inc. boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,647 shares of the industrial products company’s stock after acquiring an additional 1,105 shares during the period. Ethic Inc.’s holdings in Parker-Hannifin were worth $7,408,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Meeder Asset Management Inc. boosted its stake in Parker-Hannifin by 214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after buying an additional 45 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred 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 $1,292,230.71. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 1.0 %

Shares of PH opened at $647.60 on Friday. The stock’s fifty day simple moving average is $598.40 and its 200-day simple moving average is $645.36. 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 market capitalization of $83.36 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) 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%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $6.51 EPS. As a group, research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.11%. Parker-Hannifin’s payout ratio is presently 27.72%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Citigroup decreased their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $710.12.

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.