Parker-Hannifin Co. (NYSE:PH) Shares Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC increased its position in Parker-Hannifin Co. (NYSE:PH) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 439 shares of the industrial products company’s stock after acquiring an additional 91 shares during the period. CWA Asset Management Group LLC’s holdings in Parker-Hannifin were worth $279,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC bought a new position in Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank increased its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin in the third quarter worth about $39,000. Finally, Capital Performance Advisors LLP bought a new position in Parker-Hannifin in the 3rd quarter valued at about $50,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 0.9 %

Shares of PH stock opened at $640.76 on Friday. The business’s 50 day moving average is $673.38 and its two-hundred day moving average is $612.50. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12 month low of $449.89 and a 12 month high of $712.42. The company has a market cap of $82.48 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.96 EPS. Equities analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on PH shares. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a research report on Monday, November 18th. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group started coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. Finally, KeyCorp upped their price target on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Two 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 an average price target of $722.94.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

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.