Evexia Wealth LLC Trims Position in Parker-Hannifin Corporation $PH

Evexia Wealth LLC reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,650 shares of the industrial products company’s stock after selling 626 shares during the period. Parker-Hannifin accounts for about 4.2% of Evexia Wealth LLC’s portfolio, making the stock its 6th largest position. Evexia Wealth LLC’s holdings in Parker-Hannifin were worth $14,652,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Procyon Advisors LLC grew its holdings in shares of Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Bank of America Corp DE raised its holdings in Parker-Hannifin by 0.6% during the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock valued at $2,960,266,000 after buying an additional 22,706 shares during the last quarter. Capital World Investors boosted its position in Parker-Hannifin by 7.0% during the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after buying an additional 169,073 shares during the period. Ameriprise Financial Inc. grew its holdings in Parker-Hannifin by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after acquiring an additional 13,309 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Parker-Hannifin by 9.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after acquiring an additional 136,359 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,063 shares of company stock valued at $9,891,214 over the last ninety days. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PH shares. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research note on Thursday, January 29th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Citigroup upped their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, Truist Financial set a $1,139.00 target price on Parker-Hannifin in a research note on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $996.60.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $908.32 on Friday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The stock has a market capitalization of $114.65 billion, a P/E ratio of 33.13, a P/E/G ratio of 2.96 and a beta of 1.25. The company’s 50-day moving average is $951.50 and its 200 day moving average is $871.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $6.53 earnings per share. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.