SVB Wealth LLC Has $644,000 Position in Parker-Hannifin Co. (NYSE:PH)

SVB Wealth LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 49.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,397 shares of the industrial products company’s stock after buying an additional 464 shares during the quarter. SVB Wealth LLC’s holdings in Parker-Hannifin were worth $644,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sapient Capital LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $1,392,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $3,305,000. 17 Capital Partners LLC bought a new position in Parker-Hannifin in the 4th quarter worth approximately $2,271,000. HMS Capital Management LLC acquired a new position in Parker-Hannifin during the 4th quarter worth $1,225,000. Finally, RFG Advisory LLC boosted its position in Parker-Hannifin by 417.3% in the 4th quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock valued at $1,477,000 after buying an additional 2,587 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Down 0.6 %

NYSE:PH opened at $534.65 on Friday. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The business’s 50-day moving average price is $540.36 and its two-hundred day moving average price is $472.15. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $68.65 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.97 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.76 earnings per share. On average, equities analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin’s payout ratio is presently 29.31%.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent research reports. Evercore ISI boosted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. KeyCorp upped their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus upped their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial initiated coverage on Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. Finally, TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at $3,552,265.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by corporate insiders.

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.