Parker-Hannifin Co. (NYSE:PH) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 40.0% in the 4th quarter, Holdings Channel reports. The firm owned 600 shares of the industrial products company’s stock after selling 400 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Parker-Hannifin were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sapient Capital LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $1,392,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth $3,305,000. 17 Capital Partners LLC acquired a new position in Parker-Hannifin in the 4th quarter worth $2,271,000. HMS Capital Management LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at about $1,225,000. Finally, RFG Advisory LLC grew its stake in shares of Parker-Hannifin by 417.3% during the fourth quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock valued at $1,477,000 after acquiring an additional 2,587 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PH shares. Stifel Nicolaus upped their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial started coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective for the company. KeyCorp boosted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI lifted their price target on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Performance

NYSE PH traded down $3.44 on Friday, hitting $534.65. The stock had a trading volume of 557,975 shares, compared to its average volume of 477,044. The company’s 50-day moving average is $540.36 and its two-hundred day moving average is $472.15. The stock has a market cap of $68.65 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 1.97 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15.

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

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin 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 transaction, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction on 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 sale, 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 ninety days, insiders sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin 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.