Cwm LLC Acquires 40 Shares of Parker-Hannifin Co. (NYSE:PH)

Posted by Defense World Staff on Jul 24th, 2023

Parker-Hannifin logo Cwm LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,313 shares of the industrial products company’s stock after purchasing an additional 40 shares during the quarter. Cwm LLC’s holdings in Parker-Hannifin were worth $778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arlington Partners LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $29,000. BDO Wealth Advisors LLC boosted its position in shares of Parker-Hannifin by 32.7% in the fourth quarter. BDO Wealth Advisors LLC now owns 134 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 33 shares during the period. Coppell Advisory Solutions Corp. bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $41,000. Money Concepts Capital Corp boosted its position in shares of Parker-Hannifin by 186.3% in the fourth quarter. Money Concepts Capital Corp now owns 146 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 95 shares during the period. Finally, CoreCap Advisors LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $44,000. Institutional investors own 81.62% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP William R. Bowman sold 2,403 shares of Parker-Hannifin stock in a transaction on Monday, June 12th. The shares were sold at an average price of $357.65, for a total value of $859,432.95. Following the sale, the vice president now owns 11,152 shares in the company, valued at $3,988,512.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP William R. Bowman sold 2,403 shares of Parker-Hannifin stock in a transaction on Monday, June 12th. The shares were sold at an average price of $357.65, for a total value of $859,432.95. Following the sale, the vice president now owns 11,152 shares in the company, valued at $3,988,512.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Lee C. Banks sold 29,764 shares of the business’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $333.84, for a total transaction of $9,936,413.76. Following the sale, the insider now owns 110,476 shares in the company, valued at approximately $36,881,307.84. The disclosure for this sale can be found here. Insiders have sold a total of 34,526 shares of company stock worth $11,618,868 over the last quarter. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent analyst reports. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. KeyCorp raised their target price on shares of Parker-Hannifin from $390.00 to $450.00 in a research note on Thursday, July 13th. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $380.00 to $425.00 in a research note on Monday, July 10th. Bank of America raised their target price on shares of Parker-Hannifin from $395.00 to $435.00 in a research note on Friday, July 14th. Finally, Barclays raised their target price on shares of Parker-Hannifin from $400.00 to $425.00 in a research note on Monday, July 10th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $418.85.

Parker-Hannifin Stock Down 1.3 %

Shares of Parker-Hannifin stock opened at $397.65 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.72 and a current ratio of 1.25. Parker-Hannifin Co. has a 52-week low of $235.69 and a 52-week high of $409.62. The stock has a market capitalization of $51.06 billion, a price-to-earnings ratio of 34.43, a P/E/G ratio of 1.53 and a beta of 1.53. The company’s 50 day moving average price is $364.66 and its 200-day moving average price is $341.81.

Parker-Hannifin (NYSE:PH – Get Free Report) last issued its earnings results on Thursday, May 4th. The industrial products company reported $5.93 earnings per share (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 firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the business earned $4.83 earnings per share. The business’s revenue was up 23.9% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin Co. will post 20.91 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 12th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $5.92 annualized dividend and a yield of 1.49%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.33. Parker-Hannifin’s payout ratio is 51.26%.

Parker-Hannifin Company Profile

(Free Report)

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.