Crew Capital Management Ltd. Has $404,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Crew Capital Management Ltd. trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 877 shares of the industrial products company’s stock after selling 39 shares during the period. Crew Capital Management Ltd.’s holdings in Parker-Hannifin were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Chase Investment Counsel Corp increased its holdings in Parker-Hannifin by 1.6% in the fourth quarter. Chase Investment Counsel Corp now owns 1,668 shares of the industrial products company’s stock valued at $768,000 after purchasing an additional 27 shares during the period. Choreo LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $244,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Parker-Hannifin in the fourth quarter valued at $222,000. Mather Group LLC. grew its holdings in Parker-Hannifin by 1.8% during the 4th quarter. Mather Group LLC. now owns 2,545 shares of the industrial products company’s stock worth $1,172,000 after acquiring an additional 44 shares during the period. Finally, Gilbert & Cook Inc. grew its holdings in Parker-Hannifin by 5.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 49 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. KeyCorp increased their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus increased their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Barclays increased their price target on 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 Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price target for the company. Finally, TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $0.80 during mid-day trading on Monday, hitting $554.44. 534,634 shares of the stock were exchanged, compared to its average volume of 584,242. Parker-Hannifin Co. has a 12 month low of $318.32 and a 12 month high of $570.15. The company has a 50-day simple moving average of $543.27 and a 200 day simple moving average of $478.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The company has a market capitalization of $71.20 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.03 and a beta of 1.52.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 29.31%.

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.