Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,337 shares of the industrial products company’s stock after acquiring an additional 170 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Parker-Hannifin were worth $1,537,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Sapient Capital LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $1,392,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $3,305,000. 17 Capital Partners LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $2,271,000. HMS Capital Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $1,225,000. Finally, RFG Advisory LLC boosted its stake in Parker-Hannifin by 417.3% during the 4th quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock worth $1,477,000 after purchasing an additional 2,587 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.2 %

Shares of PH stock opened at $544.21 on Wednesday. The stock has a market cap of $69.88 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.99 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. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The firm’s 50 day moving average price is $539.11 and its two-hundred day moving average price is $470.15.

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 for 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 revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.76 earnings per share. On average, analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PH. Evercore ISI raised their target price on shares of 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 upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. The Goldman Sachs Group restated a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Truist Financial began coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price for the company. Finally, KeyCorp raised their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other 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 transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at $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 other 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 transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the sale, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 over the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Company 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.