Parker-Hannifin Co. (NYSE:PH) Stock Position Raised by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Parker-Hannifin Co. (NYSE:PH) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,151 shares of the industrial products company’s stock after purchasing an additional 329 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Parker-Hannifin were worth $1,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. Apollon Wealth Management LLC lifted its stake in Parker-Hannifin by 46.4% during the fourth quarter. Apollon Wealth Management LLC now owns 5,660 shares of the industrial products company’s stock valued at $2,608,000 after purchasing an additional 1,793 shares during the last quarter. Machina Capital S.A.S. lifted its position in Parker-Hannifin by 100.8% in the 4th quarter. Machina Capital S.A.S. now owns 1,452 shares of the industrial products company’s stock worth $669,000 after buying an additional 729 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Parker-Hannifin by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 9,945 shares of the industrial products company’s stock worth $4,582,000 after buying an additional 186 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Parker-Hannifin by 31.8% in the 4th quarter. Summit Trail Advisors LLC now owns 1,667 shares of the industrial products company’s stock worth $768,000 after buying an additional 402 shares in the last quarter. Finally, Connecticut Wealth Management LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $1,123,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded down $0.65 during mid-day trading on Tuesday, reaching $550.14. The company had a trading volume of 475,443 shares, compared to its average volume of 605,391. 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 52 week low of $319.14 and a 52 week high of $570.15. The company has a 50 day moving average of $545.73 and a 200-day moving average of $486.41. The firm 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.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share 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 business’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.93 EPS. On average, sell-side analysts expect that Parker-Hannifin Co. will post 24.62 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research analyst reports. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial increased their price target on shares of Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho increased their price target on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $539.56.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 1.03% 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.