Captrust Financial Advisors Grows Stake in Parker-Hannifin Co. (NYSE:PH)

Captrust Financial Advisors boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,473 shares of the industrial products company’s stock after buying an additional 1,157 shares during the quarter. Captrust Financial Advisors’ holdings in Parker-Hannifin were worth $6,661,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PH. Cary Street Partners Financial LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $1,484,000. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $3,657,000. Baird Financial Group Inc. raised its position in shares of Parker-Hannifin by 3.4% in the fourth quarter. Baird Financial Group Inc. now owns 802,224 shares of the industrial products company’s stock valued at $510,239,000 after buying an additional 26,183 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Parker-Hannifin by 4.2% in the fourth quarter. Benjamin Edwards Inc. now owns 4,105 shares of the industrial products company’s stock worth $2,611,000 after buying an additional 164 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Parker-Hannifin by 93.7% during the fourth quarter. BNP Paribas Financial Markets now owns 260,808 shares of the industrial products company’s stock worth $165,882,000 after acquiring an additional 126,196 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 2.8 %

PH opened at $640.51 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $82.45 billion, a P/E ratio of 26.51, a P/E/G ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The business has a fifty day simple moving average of $597.93 and a 200-day simple moving average of $645.23.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Parker-Hannifin’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.51 EPS. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.72%.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now directly owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. The trade was a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of research reports. KeyCorp raised their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus raised their target price on Parker-Hannifin from $564.00 to $630.00 and gave the stock a “hold” rating in a research note on Friday, May 2nd. Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $710.12.

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.