2,489 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Taylor Financial Group Inc.

Taylor Financial Group Inc. bought a new position in shares of Parker-Hannifin Co. (NYSE:PHFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,489 shares of the industrial products company’s stock, valued at approximately $1,147,000. Parker-Hannifin comprises about 0.9% of Taylor Financial Group Inc.’s holdings, making the stock its 26th biggest position.

Other institutional investors also recently modified their holdings of the company. Sachetta LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin during the 4th quarter valued at $26,000. First United Bank & Trust purchased a new position in Parker-Hannifin during the 4th quarter worth $29,000. Private Wealth Management Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth $33,000. Finally, Cherry Tree Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 44.6% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 81 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 25 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Truist Financial reiterated a “buy” rating and issued a $611.00 target price on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Bank of America upped their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $566.33.

Get Our Latest Report on PH

Parker-Hannifin Stock Down 4.8 %

Shares of PH traded down $25.60 on Friday, reaching $503.30. The stock had a trading volume of 1,361,709 shares, compared to its average volume of 635,985. The firm has a market capitalization of $64.69 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.13 and a beta of 1.46. The company has a 50-day simple moving average of $540.89 and a 200-day simple moving average of $509.71. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the business earned $5.93 EPS. Parker-Hannifin’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Insider Buying and Selling

In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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