Wetzel Investment Advisors Inc. Buys New Shares in Parker-Hannifin Co. (NYSE:PH)

Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 57 shares of the industrial products company’s stock, valued at approximately $26,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Wilbanks Smith & Thomas Asset Management LLC lifted its position in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after buying an additional 25 shares in the last quarter. M&R Capital Management Inc. lifted its position in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after buying an additional 25 shares in the last quarter. Private Trust Co. NA lifted its position in Parker-Hannifin by 0.7% during the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after buying an additional 25 shares in the last quarter. Keel Point LLC lifted its position in Parker-Hannifin by 3.1% during the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock valued at $388,000 after buying an additional 25 shares in the last quarter. Finally, Caprock Group LLC lifted its position in Parker-Hannifin by 1.8% during the fourth quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock valued at $692,000 after buying an additional 26 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Truist Financial initiated coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Barclays boosted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Up 0.9 %

PH stock opened at $539.72 on Tuesday. The firm has a fifty day moving average price of $540.79 and a two-hundred day moving average price of $474.50. The firm has a market cap of $69.31 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.76 earnings per share. Research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

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.