Marks Group Wealth Management Inc Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Marks Group Wealth Management Inc reduced its position in Parker-Hannifin Co. (NYSE:PH) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,262 shares of the industrial products company’s stock after selling 553 shares during the quarter. Parker-Hannifin comprises about 1.0% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 19th biggest position. Marks Group Wealth Management Inc’s holdings in Parker-Hannifin were worth $8,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $26,000. Baystate Wealth Management LLC lifted its position in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. Oakworth Capital Inc. grew its stake in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares during the period. Finally, ORG Partners LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth $42,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the topic of several recent research reports. Truist Financial assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Barclays upped 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. KeyCorp lifted their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Stock Up 0.9 %

Shares of Parker-Hannifin stock traded up $5.07 during trading on Monday, reaching $539.72. The company had a trading volume of 533,126 shares, compared to its average volume of 587,819. The company has a market cap of $69.31 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The firm’s fifty day moving average is $540.79 and its 200-day moving average is $474.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the business posted $4.76 EPS. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. Parker-Hannifin’s dividend payout ratio (DPR) 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.