Commonwealth Equity Services LLC Acquires 3,176 Shares of Parker-Hannifin Co. (NYSE:PH)

Posted by Defense World Staff on May 10th, 2023

Parker-Hannifin logo Commonwealth Equity Services LLC lifted its position in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,302 shares of the industrial products company’s stock after buying an additional 3,176 shares during the period. Commonwealth Equity Services LLC’s holdings in Parker-Hannifin were worth $7,072,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PH. AE Wealth Management LLC boosted its stake in Parker-Hannifin by 26.4% in the 4th quarter. AE Wealth Management LLC now owns 10,876 shares of the industrial products company’s stock worth $3,165,000 after purchasing an additional 2,273 shares during the period. Dimensional Fund Advisors LP boosted its stake in Parker-Hannifin by 4.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,259,286 shares of the industrial products company’s stock worth $305,175,000 after purchasing an additional 51,032 shares during the period. Kentucky Retirement Systems boosted its stake in Parker-Hannifin by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 10,093 shares of the industrial products company’s stock worth $2,937,000 after purchasing an additional 44 shares during the period. Daiwa Securities Group Inc. boosted its stake in Parker-Hannifin by 9.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,928 shares of the industrial products company’s stock worth $5,507,000 after purchasing an additional 1,634 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in Parker-Hannifin in the 4th quarter worth $219,000. Institutional investors own 81.32% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, Vice Chairman Lee C. Banks sold 29,764 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $333.84, for a total value of $9,936,413.76. Following the transaction, the insider now directly owns 110,476 shares of the company’s stock, valued at $36,881,307.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Lee C. Banks sold 29,764 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $333.84, for a total value of $9,936,413.76. Following the transaction, the insider now directly owns 110,476 shares of the company’s stock, valued at $36,881,307.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Thomas L. Williams sold 38,098 shares of Parker-Hannifin stock in a transaction that occurred 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 transaction, the chairman now directly owns 229,027 shares in the company, valued at $80,761,791.01. The disclosure for this sale can be found here. Insiders own 1.37% of the company’s stock.

Parker-Hannifin Stock Up 1.3 %

Shares of PH opened at $339.11 on Wednesday. Parker-Hannifin Co. has a 12 month low of $230.44 and a 12 month high of $364.57. The firm’s 50 day moving average is $328.33 and its 200-day moving average is $316.52. The stock has a market capitalization of $43.50 billion, a PE ratio of 29.36, a P/E/G ratio of 1.38 and a beta of 1.49. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.17.

Parker-Hannifin (NYSE:PH – Get Rating) last announced its earnings results on Thursday, May 4th. The industrial products company reported $5.93 EPS for the quarter, topping the consensus estimate of $5.01 by $0.92. Parker-Hannifin had a net margin of 8.28% and a return on equity of 29.14%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same period last year, the firm earned $4.83 earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin Co. will post 20.46 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 12th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, May 11th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.33. This represents a $5.92 annualized dividend and a dividend yield of 1.75%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 51.26%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Friday, May 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $322.00 to $344.00 and gave the stock a “hold” rating in a research note on Wednesday, April 12th. Mizuho increased their price objective on shares of Parker-Hannifin from $300.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, January 13th. Evercore ISI increased their price objective on shares of Parker-Hannifin from $413.00 to $440.00 in a research note on Tuesday. Finally, Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $376.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $378.46.

Parker-Hannifin Company Profile

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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.