Aprio Wealth Management LLC Has $636,000 Position in Parker-Hannifin Co. (NYSE:PH)

Aprio Wealth Management LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 67.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 999 shares of the industrial products company’s stock after acquiring an additional 402 shares during the period. Aprio Wealth Management LLC’s holdings in Parker-Hannifin were worth $636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Wilkinson Global Asset Management LLC lifted its stake in shares of Parker-Hannifin by 59.1% during the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after acquiring an additional 14,526 shares during the period. Banco Santander S.A. lifted its stake in shares of Parker-Hannifin by 11.9% during the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock valued at $9,147,000 after acquiring an additional 1,544 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after acquiring an additional 691 shares during the period. Finally, FMR LLC lifted its stake in shares of Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after acquiring an additional 272,531 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, 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. In the last ninety days, insiders sold 18,077 shares of company stock valued at $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

PH opened at $630.00 on Monday. Parker-Hannifin Co. has a 12-month low of $453.18 and a 12-month high of $712.42. The stock has a market cap of $81.09 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.71 and a beta of 1.45. The business has a 50 day moving average of $673.28 and a 200-day moving average of $614.87. 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 (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm posted $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were given a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is 29.45%.

Wall Street Analysts Forecast Growth

PH has been the topic of several research reports. KeyCorp upped their price target on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Robert W. Baird upped their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $722.94.

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.