Paradigm Financial Partners LLC Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Paradigm Financial Partners LLC lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,348 shares of the industrial products company’s stock after acquiring an additional 621 shares during the quarter. Paradigm Financial Partners LLC’s holdings in Parker-Hannifin were worth $2,003,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principle Wealth Partners LLC lifted its stake in Parker-Hannifin by 3.4% in the 4th quarter. Principle Wealth Partners LLC now owns 2,884 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 95 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $722,000. Aubrey Capital Management Ltd purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $2,858,000. Delta Investment Management LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $231,000. Finally, Citizens Financial Group Inc. RI purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $261,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

PH traded up $4.26 on Friday, reaching $553.64. The company had a trading volume of 548,739 shares, compared to its average volume of 492,829. Parker-Hannifin Co. has a 1 year low of $312.36 and a 1 year high of $570.15. The stock has a market capitalization of $71.09 billion, a PE ratio of 27.41, a P/E/G ratio of 2.03 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $543.27 and a 200-day moving average price of $478.28.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.76 earnings per share. As a group, research analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend 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 1.18%. Parker-Hannifin’s payout ratio is currently 29.31%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus raised their target price 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. Barclays raised their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Truist Financial assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target for the company. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Finally, KeyCorp lifted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

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.