Sherbrooke Park Advisers LLC Acquires New Stake in Parker-Hannifin Co. (NYSE:PH)

Sherbrooke Park Advisers LLC acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 728 shares of the industrial products company’s stock, valued at approximately $463,000.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $30,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $40,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Parker-Hannifin by 214.3% during the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PH. Stifel Nicolaus raised their target price on Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Citigroup dropped their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. Finally, Truist Financial dropped their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $713.88.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $680.95 on Friday. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $87.01 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The business has a 50 day simple moving average of $603.37 and a 200-day simple moving average of $647.24.

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

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin’s payout ratio is 27.72%.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction on 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 in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.39% of the company’s stock.

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.