GAMMA Investing LLC Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

GAMMA Investing LLC lifted its position in Parker-Hannifin Co. (NYSE:PH) by 13.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,621 shares of the industrial products company’s stock after buying an additional 315 shares during the period. GAMMA Investing LLC’s holdings in Parker-Hannifin were worth $1,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FineMark National Bank & Trust grew its stake in shares of Parker-Hannifin by 5.6% during the second quarter. FineMark National Bank & Trust now owns 456 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 24 shares during the last quarter. TD Asset Management Inc boosted its stake in Parker-Hannifin by 9.6% in the 2nd quarter. TD Asset Management Inc now owns 144,973 shares of the industrial products company’s stock worth $73,329,000 after purchasing an additional 12,742 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in Parker-Hannifin by 4.8% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 4,207 shares of the industrial products company’s stock worth $2,128,000 after purchasing an additional 191 shares during the last quarter. MCF Advisors LLC increased its stake in Parker-Hannifin by 5.8% during the 2nd quarter. MCF Advisors LLC now owns 1,086 shares of the industrial products company’s stock valued at $549,000 after purchasing an additional 60 shares in the last quarter. Finally, BBR Partners LLC raised its holdings in shares of Parker-Hannifin by 0.9% in the second quarter. BBR Partners LLC now owns 3,479 shares of the industrial products company’s stock worth $1,760,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PH shares. TD Cowen boosted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Mizuho lifted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Barclays raised their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $722.94.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $637.68 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The company’s fifty day moving average price is $672.09 and its 200 day moving average price is $607.90. The stock has a market capitalization of $82.08 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.71 and a beta of 1.44. Parker-Hannifin Co. has a 1 year low of $449.89 and a 1 year high of $712.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.96 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

About Parker-Hannifin

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.