Silvercrest Asset Management Group LLC Raises Position in Parker-Hannifin Co. (NYSE:PH)

Silvercrest Asset Management Group LLC grew its stake in Parker-Hannifin Co. (NYSE:PH) by 5.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,758 shares of the industrial products company’s stock after purchasing an additional 618 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Parker-Hannifin were worth $7,479,000 at the end of the most recent reporting period.

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

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $680.95 on Monday. The company has a market capitalization of $87.01 billion, a PE ratio of 28.19, a P/E/G ratio of 2.85 and a beta of 1.36. The company has a 50-day simple moving average of $603.37 and a two-hundred day simple moving average of $647.33. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

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

Parker-Hannifin Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on PH. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays decreased their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, KeyCorp lifted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $713.88.

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.