First Pacific Financial Sells 104 Shares of Parker-Hannifin Co. (NYSE:PH)

First Pacific Financial cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,071 shares of the industrial products company’s stock after selling 104 shares during the quarter. First Pacific Financial’s holdings in Parker-Hannifin were worth $1,317,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Renaissance Technologies LLC bought a new position in Parker-Hannifin in the second quarter valued at approximately $35,129,000. Meiji Yasuda Life Insurance Co bought a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $235,000. Mercer Global Advisors Inc. ADV increased its stake in Parker-Hannifin by 6.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,391 shares of the industrial products company’s stock valued at $5,256,000 after buying an additional 626 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Parker-Hannifin by 13.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,233 shares of the industrial products company’s stock worth $5,176,000 after buying an additional 1,196 shares in the last quarter. Finally, Seven Eight Capital LP boosted its stake in shares of Parker-Hannifin by 407.4% during the 2nd quarter. Seven Eight Capital LP now owns 2,953 shares of the industrial products company’s stock worth $1,494,000 after buying an additional 2,371 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’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 directly owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last three months. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PH shares. KeyCorp increased their price target on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Wells Fargo & Company cut their price objective on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Mizuho boosted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Truist Financial increased their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays boosted their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $657.97 on Friday. The stock’s 50-day simple moving average is $672.09 and its two-hundred day simple moving average is $617.07. The firm has a market capitalization of $84.69 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.54 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. Parker-Hannifin Co. has a twelve month low of $453.18 and a twelve month high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share 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 analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were given a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

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.