Parker-Hannifin Co. (NYSE:PH) Shares Bought by Western Wealth Management LLC

Western Wealth Management LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,209 shares of the industrial products company’s stock after buying an additional 147 shares during the period. Western Wealth Management LLC’s holdings in Parker-Hannifin were worth $1,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sapient Capital LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $1,392,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $3,305,000. 17 Capital Partners LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $2,271,000. HMS Capital Management LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $1,225,000. Finally, RFG Advisory LLC increased its holdings in Parker-Hannifin by 417.3% in the fourth 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 in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were 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 approximately $3,552,265.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 in the last ninety days. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $534.65 on Friday. The company’s 50-day moving average is $540.36 and its two-hundred day moving average is $472.15. 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 Co. has a 1-year low of $309.89 and a 1-year 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.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.76 EPS. Analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Truist Financial initiated coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. Evercore ISI lifted their target price 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. Barclays lifted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, KeyCorp lifted their target price 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. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

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.