TABR Capital Management LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

TABR Capital Management LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 729 shares of the industrial products company’s stock, valued at approximately $463,000. Parker-Hannifin comprises approximately 0.4% of TABR Capital Management LLC’s holdings, making the stock its 20th largest position.

A number of other hedge funds have also bought and sold shares of the business. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank raised its position in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth $39,000. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’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 completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Up 0.8 %

Shares of PH stock opened at $679.86 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The business has a 50-day moving average of $669.12 and a 200 day moving average of $622.74. The stock has a market capitalization of $87.51 billion, a PE ratio of 30.71, a P/E/G ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $463.16 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business earned $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Analysts Set New Price Targets

Several equities research analysts have commented on PH shares. UBS Group assumed coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective on the stock. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Barclays upped their target price on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Truist Financial boosted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a research note on Monday, November 18th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $722.94.

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.