Franklin Street Advisors Inc. NC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Franklin Street Advisors Inc. NC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,275 shares of the industrial products company’s stock after acquiring an additional 204 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Parker-Hannifin were worth $10,987,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PH. West Branch Capital LLC acquired a new stake in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank lifted its stake in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC boosted its holdings in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $39,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

PH stock traded down $16.29 on Friday, reaching $625.21. The company’s stock had a trading volume of 174,416 shares, compared to its average volume of 468,934. The firm has a fifty day moving average of $673.38 and a two-hundred day moving average of $612.50. The company has a market capitalization of $80.48 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin Co. has a 52 week low of $453.18 and a 52 week high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm posted $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PH shares. KeyCorp raised their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Barclays upped their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $722.94.

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.