Parker-Hannifin Co. (NYSE:PH) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,075 shares of the industrial products company’s stock after selling 58 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Parker-Hannifin were worth $2,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank increased its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the third quarter valued at $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 in the company, 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 ninety days, insiders sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on PH shares. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Truist Financial increased their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus reduced their target price on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Stock Performance

NYSE:PH opened at $662.54 on Tuesday. 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 $85.28 billion, a PE ratio of 29.93, a P/E/G ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $712.42. The company has a fifty day moving average of $668.38 and a two-hundred day moving average of $625.84.

Parker-Hannifin (NYSE:PH) last issued 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. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company posted $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Parker-Hannifin Company 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.