Livelsberger Financial Advisory Buys New Holdings in Parker-Hannifin Co. (NYSE:PH)

Livelsberger Financial Advisory bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 327 shares of the industrial products company’s stock, valued at approximately $150,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sapient Capital LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $1,392,000. abrdn plc boosted its stake in shares of Parker-Hannifin by 57.8% in the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after buying an additional 20,073 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $4,068,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $3,305,000. Finally, Independent Advisor Alliance boosted its stake in shares of Parker-Hannifin by 8.3% in the 4th quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock worth $7,479,000 after buying an additional 1,243 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.5 %

Parker-Hannifin stock opened at $506.03 on Tuesday. The stock has a market cap of $65.05 billion, a P/E ratio of 23.85, a PEG ratio of 2.01 and a beta of 1.46. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The firm’s fifty day moving average price is $538.42 and its 200-day moving average price is $511.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the firm posted $5.93 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were given a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.29%. Parker-Hannifin’s payout ratio is 30.73%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PH shares. Bank of America upped their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. KeyCorp upped their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays dropped their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Argus upped their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Wells Fargo & Company dropped their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $566.33.

Insider Buying and Selling

In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

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.