Parker-Hannifin Co. (NYSE:PH) Shares Purchased by GoalVest Advisory LLC

GoalVest Advisory LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 40.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70 shares of the industrial products company’s stock after acquiring an additional 20 shares during the period. GoalVest Advisory LLC’s holdings in Parker-Hannifin were worth $39,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on PH shares. KeyCorp raised their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays decreased their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Finally, Bank of America raised their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $566.33.

Parker-Hannifin Stock Up 0.3 %

Shares of NYSE PH opened at $504.22 on Friday. The company has a 50 day simple moving average of $532.30 and a 200-day simple moving average of $514.77. The company has a market capitalization of $64.81 billion, a P/E ratio of 23.76, a P/E/G ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter last year, the firm earned $5.93 EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Parker-Hannifin Co. will post 24.84 earnings per share for the current 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Insider Activity at Parker-Hannifin

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