Greenup Street Wealth Management LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Greenup Street Wealth Management LLC grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 420.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,083 shares of the industrial products company’s stock after purchasing an additional 3,299 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Parker-Hannifin were worth $2,597,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PH. State Street Corp raised its stake in shares of Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares during the period. FMR LLC increased its holdings in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after acquiring an additional 272,531 shares in the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 29,408 shares during the period. Wellington Management Group LLP lifted its holdings in Parker-Hannifin by 39.9% during the third 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. grew its position in shares of Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 2.5 %

PH stock opened at $662.54 on Tuesday. The firm has a market cap of $85.28 billion, a PE ratio of 29.93, a PEG ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a one year low of $463.16 and a one year high of $712.42. 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 firm’s 50 day moving average price is $668.38 and its 200-day moving average price is $625.84.

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

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. Parker-Hannifin’s payout ratio is presently 29.45%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PH. Stifel Nicolaus decreased their price target on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating on the stock in a research note on Friday. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $722.81.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. 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 company insiders.

Parker-Hannifin 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.