Valley National Advisers Inc. Buys 169 Shares of Parker-Hannifin Co. (NYSE:PH)

Posted by on Mar 22nd, 2023

Valley National Advisers Inc. boosted its stake in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 256.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235 shares of the industrial products company’s stock after acquiring an additional 169 shares during the period. Valley National Advisers Inc.’s holdings in Parker-Hannifin were worth $73,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Parker-Hannifin by 1.2% in the third quarter. Vanguard Group Inc. now owns 10,098,862 shares of the industrial products company’s stock worth $2,447,056,000 after acquiring an additional 116,630 shares during the period. Charles Schwab Investment Management Inc. raised its position in Parker-Hannifin by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock worth $564,923,000 after acquiring an additional 24,977 shares during the period. Maj Invest Holding A S raised its position in Parker-Hannifin by 8.9% in the third quarter. Maj Invest Holding A S now owns 1,304,161 shares of the industrial products company’s stock worth $370,069,000 after acquiring an additional 106,939 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Parker-Hannifin by 4.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,259,286 shares of the industrial products company’s stock valued at $305,175,000 after purchasing an additional 51,032 shares during the period. Finally, Invesco Ltd. raised its position in shares of Parker-Hannifin by 7.4% in the first quarter. Invesco Ltd. now owns 1,251,011 shares of the industrial products company’s stock valued at $354,986,000 after purchasing an additional 86,695 shares during the period. Institutional investors own 81.32% of the company’s stock.

Insider Activity

In other news, VP Mark T. Czaja sold 430 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $351.70, for a total value of $151,231.00. Following the completion of the sale, the vice president now owns 507 shares of the company’s stock, valued at approximately $178,311.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Thomas L. Williams sold 38,098 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $352.63, for a total transaction of $13,434,497.74. Following the completion of the sale, the chairman now directly owns 229,027 shares in the company, valued at approximately $80,761,791.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Mark T. Czaja sold 430 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $351.70, for a total transaction of $151,231.00. Following the sale, the vice president now owns 507 shares of the company’s stock, valued at $178,311.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,454 shares of company stock valued at $21,706,490. Corporate insiders own 1.37% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $326.21 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.28 and a quick ratio of 0.73. Parker-Hannifin Co. has a one year low of $230.44 and a one year high of $364.57. The stock has a market cap of $41.84 billion, a PE ratio of 33.70, a P/E/G ratio of 1.32 and a beta of 1.51. The firm has a 50 day simple moving average of $335.34 and a two-hundred day simple moving average of $300.73.

Parker-Hannifin (NYSE:PH – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.31. Parker-Hannifin had a net margin of 7.33% and a return on equity of 28.23%. The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the company earned $4.46 EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Co. will post 19.6 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, March 3rd were paid a $1.33 dividend. The ex-dividend date was Thursday, February 9th. This represents a $5.32 dividend on an annualized basis and a dividend yield of 1.63%. Parker-Hannifin’s dividend payout ratio (DPR) is 54.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Parker-Hannifin from $335.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Morgan Stanley boosted their price target on shares of Parker-Hannifin from $311.00 to $374.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. Barclays boosted their price target on shares of Parker-Hannifin from $343.00 to $400.00 and gave the company an “overweight” rating in a research report on Sunday, February 5th. Mizuho boosted their price target on shares of Parker-Hannifin from $300.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, January 13th. Finally, BMO Capital Markets upped their target price on shares of Parker-Hannifin from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Monday, March 6th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $363.25.

Parker-Hannifin Company Profile

(Get Rating)

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace Systems segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

Read More

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.