D.A. Davidson & CO. Has $2.12 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

D.A. Davidson & CO. decreased its stake in Parker-Hannifin Co. (NYSE:PH) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,592 shares of the industrial products company’s stock after selling 163 shares during the period. D.A. Davidson & CO.’s holdings in Parker-Hannifin were worth $2,116,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sapient Capital LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $1,392,000. abrdn plc grew its position in Parker-Hannifin by 57.8% during the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock valued at $25,247,000 after purchasing an additional 20,073 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $3,305,000. Independent Advisor Alliance lifted its stake in shares of Parker-Hannifin by 8.3% in the 4th quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock worth $7,479,000 after purchasing an additional 1,243 shares during the period. Finally, 17 Capital Partners LLC bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $2,271,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock traded up $3.26 during trading on Friday, hitting $529.83. The company had a trading volume of 644,009 shares, compared to its average volume of 717,101. Parker-Hannifin Co. has a one year low of $319.14 and a one year high of $570.15. The firm has a market capitalization of $68.10 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 2.11 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The stock’s 50-day moving average price is $548.76 and its 200 day moving average price is $500.12.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. Parker-Hannifin’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.93 earnings per share. Equities analysts expect that Parker-Hannifin Co. will post 24.84 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.23%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Analyst Ratings Changes

Several research firms have recently weighed in on PH. Wells Fargo & Company decreased their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. KeyCorp upped their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI raised their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Mizuho lifted their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus lifted their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $560.20.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

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.