Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,509 shares of the industrial products company’s stock after purchasing an additional 1,137 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Parker-Hannifin were worth $24,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Cetera Advisor Networks LLC grew its holdings in shares of Parker-Hannifin by 8.1% during the first quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock worth $425,000 after buying an additional 112 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Parker-Hannifin by 69.8% in the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 1,591 shares during the last quarter. Prudential PLC acquired a new stake in Parker-Hannifin in the 1st quarter valued at about $687,000. Moors & Cabot Inc. boosted its holdings in shares of Parker-Hannifin by 270.8% during the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Parker-Hannifin by 2.0% in the first quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after purchasing an additional 190,889 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,079 shares of company stock worth $6,099,566. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial assumed coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $450.00 to $510.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $588.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $504.56.

Parker-Hannifin Trading Up 1.6 %

NYSE PH opened at $558.05 on Thursday. Parker-Hannifin Co. has a one year low of $308.26 and a one year high of $561.13. The firm has a 50 day simple moving average of $516.45 and a 200-day simple moving average of $452.96. The firm has a market cap of $71.66 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.02 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.76 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.2 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

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.