M&T Bank Corp Boosts Stake in Parker-Hannifin Corporation $PH

M&T Bank Corp lifted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 128.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,206 shares of the industrial products company’s stock after purchasing an additional 45,112 shares during the quarter. M&T Bank Corp owned 0.06% of Parker-Hannifin worth $70,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. JFS Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 6.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 11 shares during the last quarter. Avion Wealth raised its stake in shares of Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 11 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 1.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock worth $573,000 after purchasing an additional 12 shares during the last quarter. Altfest L J & Co. Inc. raised its stake in shares of Parker-Hannifin by 4.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 286 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 12 shares during the last quarter. Finally, Berkshire Asset Management LLC PA raised its stake in shares of Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This represents a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,063 shares of company stock valued at $9,891,214 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 2.4%

Parker-Hannifin stock opened at $972.26 on Wednesday. The stock has a market cap of $122.72 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 3.21 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin Corporation has a one year low of $554.22 and a one year high of $1,034.96. The stock has a fifty day moving average of $954.11 and a 200 day moving average of $892.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same quarter in the previous year, the firm earned $6.53 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 30.99 EPS for the current 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 issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PH. Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, January 30th. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research report on Thursday, January 29th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research report on Friday, April 10th. BMO Capital Markets began coverage on Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Finally, Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a research report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $1,000.60.

Parker-Hannifin 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.