M&T Bank Corp Buys 45,112 Shares of Parker-Hannifin Corporation $PH

M&T Bank Corp lifted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 128.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,206 shares of the industrial products company’s stock after acquiring an additional 45,112 shares during the period. M&T Bank Corp’s holdings in Parker-Hannifin were worth $70,498,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin in the third quarter worth about $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin in the third quarter worth about $29,000. Ameriflex Group Inc. boosted its stake in shares of Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 33 shares during the period. Morse Asset Management Inc boosted its stake in shares of Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. bought a new position in shares of Parker-Hannifin in the third quarter worth about $36,000. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 10,063 shares of company stock valued at $9,891,214. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $972.26 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $122.72 billion, a P/E ratio of 35.46, a P/E/G ratio of 3.21 and a beta of 1.25. Parker-Hannifin Corporation has a 12 month low of $554.22 and a 12 month high of $1,034.96. The business’s 50-day moving average is $954.11 and its 200 day moving average is $892.52.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $6.53 EPS. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 30.99 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio is 26.26%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent analyst reports. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Morgan Stanley upped their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, Stifel Nicolaus boosted their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,000.60.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.