Two Point Capital Management Inc. Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Two Point Capital Management Inc. boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,293 shares of the industrial products company’s stock after buying an additional 336 shares during the quarter. Parker-Hannifin accounts for about 3.6% of Two Point Capital Management Inc.’s holdings, making the stock its 12th biggest holding. Two Point Capital Management Inc.’s holdings in Parker-Hannifin were worth $7,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin during the third quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $26,000. Baystate Wealth Management LLC lifted its position in shares of Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares in the last quarter. Oakworth Capital Inc. lifted its position in shares of Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PH shares. Barclays upped their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Evercore ISI raised their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Truist Financial began coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Up 0.8 %

Shares of PH traded up $4.20 during midday trading on Friday, hitting $553.58. The company had a trading volume of 373,579 shares, compared to its average volume of 582,308. The company’s 50 day moving average price is $542.60 and its 200 day moving average price is $476.62. The stock has a market cap of $71.09 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.00 and a beta of 1.52. Parker-Hannifin Co. has a 52 week low of $312.36 and a 52 week high of $570.15. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.76 EPS. On average, equities research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

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.