Great Diamond Partners LLC Raises Stock Position in Parker-Hannifin Co. (NYSE:PH)

Great Diamond Partners LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,670 shares of the industrial products company’s stock after acquiring an additional 28 shares during the period. Great Diamond Partners LLC’s holdings in Parker-Hannifin were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in Parker-Hannifin by 3.9% in the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 16 shares during the last quarter. Grove Bank & Trust grew its position in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 16 shares in the last quarter. Moody Lynn & Lieberson LLC increased its holdings in shares of Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 16 shares during the last quarter. Everpar Advisors LLC lifted its position in shares of Parker-Hannifin by 1.3% in the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock worth $852,000 after buying an additional 17 shares in the last quarter. Finally, LVW Advisors LLC boosted its stake in Parker-Hannifin by 0.9% during the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock valued at $1,252,000 after buying an additional 17 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $707.91 on Friday. 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 stock’s fifty day moving average is $666.82 and its two-hundred day moving average is $628.47. Parker-Hannifin Co. has a 52 week low of $463.16 and a 52 week high of $718.44. The company has a market capitalization of $91.12 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. As a group, analysts expect that Parker-Hannifin Co. will post 26.73 earnings per share for the current 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 issued 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 0.92%. Parker-Hannifin’s payout ratio is 29.45%.

Analysts Set New Price Targets

A number of research firms have issued reports on PH. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Mizuho upped their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group lowered their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $725.06.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,864 shares of the company’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 value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock valued at $8,595,207 over the last quarter. 0.39% of the stock is owned by corporate insiders.

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.