BDO Wealth Advisors LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH – Get Rating) by 32.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134 shares of the industrial products company’s stock after buying an additional 33 shares during the quarter. BDO Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Arlington Partners LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $29,000. Accurate Wealth Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $42,000. Western Pacific Wealth Management LP acquired a new stake in Parker-Hannifin during the third quarter worth approximately $35,000. Align Wealth Management LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $38,000. Finally, Allworth Financial LP boosted its position in Parker-Hannifin by 75.3% during the fourth quarter. Allworth Financial LP now owns 163 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 70 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently issued reports on PH shares. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $335.00 to $341.00 and gave the stock an “overweight” rating in a research report on Thursday, January 19th. KeyCorp raised their target price on shares of Parker-Hannifin from $335.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Robert W. Baird raised their target price on shares of Parker-Hannifin from $385.00 to $403.00 in a research report on Thursday, February 2nd. Morgan Stanley increased their price target on shares of Parker-Hannifin from $311.00 to $374.00 and gave the stock an “equal weight” rating in a research note on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Parker-Hannifin from $322.00 to $344.00 in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $365.08.
Parker-Hannifin Stock Performance
Parker-Hannifin (NYSE:PH – Get Rating) last issued its earnings results on Thursday, February 2nd. The industrial products company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.31. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.44 billion. Parker-Hannifin had a net margin of 7.33% and a return on equity of 28.23%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.46 EPS. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 19.6 EPS for the current year.
Parker-Hannifin Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 10th. Investors of record on Friday, March 3rd were issued a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, February 9th. Parker-Hannifin’s payout ratio is 54.96%.
Insider Activity at Parker-Hannifin
In related news, Chairman Thomas L. Williams sold 38,098 shares of the firm’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 of the company’s stock, valued at approximately $80,761,791.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 1,550 shares of the firm’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $346.55, for a total transaction of $537,152.50. Following the completion of the transaction, the vice president now directly owns 1,740 shares of the company’s stock, valued at approximately $602,997. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Thomas L. Williams sold 38,098 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $352.63, for a total transaction of $13,434,497.74. Following the transaction, the chairman now directly owns 229,027 shares of the company’s stock, valued at $80,761,791.01. The disclosure for this sale can be found here. In the last three months, 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 Profile
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.
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