Daymark Wealth Partners LLC Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Daymark Wealth Partners LLC boosted its position in Parker-Hannifin Co. (NYSE:PH) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,072 shares of the industrial products company’s stock after buying an additional 236 shares during the period. Daymark Wealth Partners LLC’s holdings in Parker-Hannifin were worth $15,310,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PH. State Street Corp boosted its stake in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares in the last quarter. FMR LLC boosted its holdings in Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after buying an additional 272,531 shares in the last quarter. Geode Capital Management LLC grew its position in Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after buying an additional 29,408 shares during the period. Wellington Management Group LLP increased its stake in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Parker-Hannifin by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after buying an additional 59,432 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction 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. This trade represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Up 1.2 %

Shares of NYSE:PH opened at $677.71 on Wednesday. Parker-Hannifin Co. has a 1-year low of $463.16 and a 1-year high of $712.42. The company’s fifty day moving average is $669.77 and its two-hundred day moving average is $622.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The stock has a market capitalization of $87.23 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 2.74 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.96 EPS. Equities analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Mizuho upped their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company lowered their price target on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target on the stock. Finally, KeyCorp raised their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $722.94.

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.