Evexia Wealth LLC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Evexia Wealth LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 22,221 shares of the industrial products company’s stock after buying an additional 164 shares during the period. Parker-Hannifin makes up 4.8% of Evexia Wealth LLC’s investment portfolio, making the stock its 4th biggest position. Evexia Wealth LLC’s holdings in Parker-Hannifin were worth $11,340,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Everpar Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $1,338,000. Cherry Tree Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 44.6% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 81 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 25 shares during the period. Centric Wealth Management bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $222,000. Aviance Capital Partners LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $220,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Parker-Hannifin by 8.6% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,151 shares of the industrial products company’s stock valued at $1,913,000 after buying an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.1 %

Shares of NYSE:PH traded down $0.65 during midday trading on Tuesday, reaching $550.14. The company’s stock had a trading volume of 475,443 shares, compared to its average volume of 605,391. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $545.73 and a 200-day moving average of $486.41. The firm has a market capitalization of $70.64 billion, a P/E ratio of 25.93, a PEG ratio of 1.94 and a beta of 1.51. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the company earned $5.93 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is 27.90%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 1,079 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent analyst reports. TD Cowen raised 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. Mizuho boosted their price target on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday. Stifel Nicolaus increased their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Truist Financial lifted their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a research report on Friday. Finally, KeyCorp upped their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.56.

Parker-Hannifin Profile

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.