Fairman Group LLC Purchases Shares of 1,143 Parker-Hannifin Co. (NYSE:PH)

Fairman Group LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PHFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,143 shares of the industrial products company’s stock, valued at approximately $527,000. Parker-Hannifin accounts for approximately 0.5% of Fairman Group LLC’s holdings, making the stock its 22nd biggest position.

Several other large investors have also made changes to their positions in PH. Sapient Capital LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $1,392,000. abrdn plc increased its stake in shares of Parker-Hannifin by 57.8% in the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after acquiring an additional 20,073 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth $4,068,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth $3,305,000. Finally, Independent Advisor Alliance increased its stake in shares of Parker-Hannifin by 8.3% in the 4th quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock worth $7,479,000 after acquiring an additional 1,243 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Evercore ISI raised their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Wells Fargo & Company cut their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Truist Financial reissued a “buy” rating and set a $611.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, May 15th. Finally, Bank of America raised their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $566.33.

View Our Latest Stock Report on Parker-Hannifin

Parker-Hannifin Price Performance

PH stock opened at $505.46 on Tuesday. The business has a 50 day moving average price of $538.42 and a 200 day moving average price of $511.88. The stock has a market cap of $64.97 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.01 and a beta of 1.46. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PHGet Free Report) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.93 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were given a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.29%. Parker-Hannifin’s payout ratio is 30.73%.

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 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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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