Tilt Investment Management Holdings PBC Has $240,000 Stock Position in Parker-Hannifin Co. (NYSE:PH)

Tilt Investment Management Holdings PBC trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 23.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 520 shares of the industrial products company’s stock after selling 160 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Parker-Hannifin were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management bought a new position in Parker-Hannifin during the third quarter valued at approximately $25,000. Baystate Wealth Management LLC raised its position in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in Parker-Hannifin during the second quarter valued at approximately $30,000. Oakworth Capital Inc. raised its position in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $41,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PH shares. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. KeyCorp lifted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. 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, Evercore ISI lifted their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction 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 transaction, the vice president now directly 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 valued at $6,099,566. 1.03% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 0.5 %

PH opened at $538.09 on Friday. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm’s fifty day moving average price is $540.09 and its two-hundred day moving average price is $471.11. The company has a market capitalization of $69.10 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.98 and a beta of 1.52.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders 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 1.10%. Parker-Hannifin’s 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.