Retirement Wealth Solutions LLC Invests $47,000 in Parker-Hannifin Co. (NYSE:PH)

Retirement Wealth Solutions LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 74 shares of the industrial products company’s stock, valued at approximately $47,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. FMR LLC lifted its stake in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. Geode Capital Management LLC grew its holdings in Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP increased its position in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after buying an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after buying an additional 59,432 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.8 %

Shares of NYSE PH opened at $670.75 on Friday. The stock has a market capitalization of $86.34 billion, a P/E ratio of 30.30, a PEG ratio of 2.54 and a beta of 1.45. The stock’s fifty day moving average is $671.45 and its 200 day moving average is $617.36. Parker-Hannifin Co. has a 52 week low of $458.09 and a 52 week high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $5.96 EPS. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.97%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $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 available at this link. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of recent analyst reports. UBS Group began coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. TD Cowen raised their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Truist Financial raised their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $722.94.

Parker-Hannifin Profile

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.