Stratos Wealth Partners LTD. Acquires 840 Shares of Parker-Hannifin Corporation $PH

Stratos Wealth Partners LTD. grew its holdings in Parker-Hannifin Corporation (NYSE:PH) by 3.5% in the 4th quarter, Holdings Channel reports. The fund owned 24,970 shares of the industrial products company’s stock after purchasing an additional 840 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Parker-Hannifin were worth $21,948,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth approximately $29,000. Ameriflex Group Inc. lifted its stake in Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares in the last quarter. Morse Asset Management Inc lifted its stake in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after buying an additional 28 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating on the stock in a report on Wednesday. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. BMO Capital Markets initiated coverage on Parker-Hannifin in a research note on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price target on the stock. Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a research report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $996.60.

Insider Activity

In related news, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,063 shares of company stock worth $9,891,214. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Up 0.0%

Shares of PH stock opened at $908.32 on Friday. The firm’s fifty day moving average price is $951.11 and its two-hundred day moving average price is $872.84. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The firm has a market capitalization of $114.65 billion, a P/E ratio of 33.13, a PEG ratio of 2.92 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $6.53 earnings per share. On average, equities analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.