Signal Advisors Wealth LLC Sells 71 Shares of Parker-Hannifin Co. (NYSE:PH)

Signal Advisors Wealth LLC cut its stake in Parker-Hannifin Co. (NYSE:PH) by 9.1% during the fourth quarter, HoldingsChannel reports. The firm owned 711 shares of the industrial products company’s stock after selling 71 shares during the period. Signal Advisors Wealth LLC’s holdings in Parker-Hannifin were worth $453,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wright Investors Service Inc. grew its stake in Parker-Hannifin by 236.7% in the 4th quarter. Wright Investors Service Inc. now owns 3,185 shares of the industrial products company’s stock worth $2,026,000 after acquiring an additional 2,239 shares in the last quarter. BCS Wealth Management bought a new position in Parker-Hannifin in the fourth quarter worth approximately $1,413,000. PFW Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter worth approximately $847,000. Miracle Mile Advisors LLC increased its holdings in Parker-Hannifin by 42.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 6,225 shares of the industrial products company’s stock worth $3,959,000 after purchasing an additional 1,844 shares during the period. Finally, Bar Harbor Wealth Management lifted its holdings in shares of Parker-Hannifin by 0.9% in the 4th quarter. Bar Harbor Wealth Management now owns 21,470 shares of the industrial products company’s stock worth $13,656,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

PH opened at $647.19 on Wednesday. The company has a market cap of $83.31 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $673.15 and its 200-day moving average price is $616.80. Parker-Hannifin Co. has a 52-week low of $453.18 and a 52-week high of $712.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.96 EPS. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PH shares. TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. UBS Group assumed coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Truist Financial increased 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. Two equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $722.94.

Insiders Place Their Bets

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by company insiders.

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.