Anchor Capital Advisors LLC Sells 1,054 Shares of Parker-Hannifin Co. (NYSE:PH)

Anchor Capital Advisors LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,573 shares of the industrial products company’s stock after selling 1,054 shares during the period. Anchor Capital Advisors LLC’s holdings in Parker-Hannifin were worth $10,860,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PH. OFI Invest Asset Management bought a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin during the fourth quarter valued at about $26,000. Baystate Wealth Management LLC grew its stake in Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares during the last quarter. Oakworth Capital Inc. raised its holdings in Parker-Hannifin by 48.3% in the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $42,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus increased their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Barclays raised their price target on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Truist Financial started coverage on Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction that occurred on 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 directly owns 7,063 shares in the company, valued at $3,552,265.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was 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 owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

PH traded up $1.49 during midday trading on Tuesday, hitting $555.93. 63,905 shares of the company traded hands, compared to its average volume of 577,905. The business has a 50 day simple moving average of $543.95 and a two-hundred day simple moving average of $479.82. Parker-Hannifin Co. has a 52-week low of $318.32 and a 52-week high of $570.15. The company has a market capitalization of $71.39 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.03 and a beta of 1.52. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating 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 analyst estimates of $4.82 billion. During the same period last year, the company posted $4.76 EPS. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

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.