Unique Wealth Strategies LLC Makes New $722,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Unique Wealth Strategies LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,567 shares of the industrial products company’s stock, valued at approximately $722,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Sapient Capital LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $1,392,000. abrdn plc raised its holdings 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 purchasing an additional 20,073 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $3,305,000. 17 Capital Partners LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $2,271,000. Finally, HMS Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,225,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 0.8 %

PH stock traded up $4.26 during trading hours on Friday, hitting $553.64. The company’s stock had a trading volume of 548,739 shares, compared to its average volume of 492,829. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $71.09 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a 12 month low of $312.36 and a 12 month high of $570.15. The stock has a 50 day moving average price of $543.27 and a two-hundred day moving average price of $477.71.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.76 earnings per share. On average, equities research analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Insider Buying and Selling

In related news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction 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 completion of the sale, 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 sold 12,079 shares of company stock valued at $6,099,566. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Barclays boosted their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. The Goldman Sachs Group restated a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

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.