Tennessee Valley Asset Management Partners Makes New $43,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Tennessee Valley Asset Management Partners acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 93 shares of the industrial products company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after acquiring an additional 25 shares during the last quarter. M&R Capital Management Inc. increased its holdings in shares of Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 25 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after acquiring an additional 25 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Parker-Hannifin by 1.8% in the 4th quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 26 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Parker-Hannifin by 0.8% during the 4th quarter. AdvisorNet Financial Inc now owns 3,175 shares of the industrial products company’s stock valued at $1,463,000 after purchasing an additional 26 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports 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 for the company. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $300.00 to $500.00 in a research report on Friday, March 1st. The Goldman Sachs Group restated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Transactions at Parker-Hannifin

In other news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock valued at $6,099,566 over the last three months. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Up 1.9 %

PH opened at $550.24 on Wednesday. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock’s fifty day moving average is $541.56 and its 200-day moving average is $475.61. The company has a market capitalization of $70.66 billion, a PE ratio of 27.24, a P/E/G ratio of 1.96 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the business earned $4.76 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced 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 1.08%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

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.