McGlone Suttner Wealth Management Inc. Increases Position in Parker-Hannifin Co. (NYSE:PH)

McGlone Suttner Wealth Management Inc. increased its stake in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,288 shares of the industrial products company’s stock after buying an additional 75 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Parker-Hannifin were worth $820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares during the period. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $23,390,000. Wilkinson Global Asset Management LLC increased its holdings in shares of Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after purchasing an additional 14,526 shares in the last quarter. Banco Santander S.A. increased its stake in shares of Parker-Hannifin by 11.9% during the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock worth $9,147,000 after purchasing an additional 1,544 shares in the last quarter. Finally, FMR LLC raised its position in shares of Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $679.86 on Friday. Parker-Hannifin Co. has a 12-month low of $463.16 and a 12-month high of $712.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a market capitalization of $87.51 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. The firm’s fifty day moving average price is $669.12 and its 200 day moving average price is $622.74.

Parker-Hannifin (NYSE:PHGet Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $5.96 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PH shares. Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays lifted their price target on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. KeyCorp increased their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $722.94.

View Our Latest Research Report on Parker-Hannifin

Insider Activity

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

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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