Aviance Capital Partners LLC Buys New Position in Parker-Hannifin Co. (NYSE:PH)

Aviance Capital Partners LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 478 shares of the industrial products company’s stock, valued at approximately $220,000.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Parker-Hannifin in the 3rd quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin during the fourth quarter worth about $26,000. Baystate Wealth Management LLC raised its stake in Parker-Hannifin by 233.3% in the 3rd 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. boosted its holdings in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. Finally, ORG Partners LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective 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. Argus upped their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday. Barclays decreased their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research report on Friday. Evercore ISI raised their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, Truist Financial increased their price objective on shares of Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $539.56.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was 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 of the company’s stock, valued at $609,989.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, 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 currently owned by company insiders.

Parker-Hannifin Stock Down 0.1 %

Shares of PH stock traded down $0.65 during trading hours on Tuesday, hitting $550.14. 475,443 shares of the company’s stock traded hands, compared to its average volume of 605,391. The stock has a market cap of $70.64 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.94 and a beta of 1.51. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15. The stock’s fifty day simple moving average is $545.73 and its two-hundred day simple moving average is $486.41.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.93 EPS. On average, analysts expect that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. Parker-Hannifin’s payout ratio is presently 27.90%.

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.