Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Colonial Trust Co SC

by · The Cerbat Gem

Colonial Trust Co SC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 470 shares of the industrial products company’s stock after buying an additional 44 shares during the quarter. Colonial Trust Co SC’s holdings in Parker-Hannifin were worth $299,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PH. Vanguard Group Inc. raised its holdings in Parker-Hannifin by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock worth $6,903,962,000 after purchasing an additional 111,406 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after buying an additional 99,261 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock valued at $1,591,810,000 after buying an additional 198,292 shares during the period. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,106,132,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Parker-Hannifin by 17.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company’s stock worth $1,018,185,000 after acquiring an additional 237,634 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 1.5 %

Shares of PH opened at $623.03 on Thursday. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The stock has a fifty day moving average of $598.10 and a two-hundred day moving average of $645.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market capitalization of $80.20 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH – Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.51 earnings per share. As a group, analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.16%. Parker-Hannifin’s payout ratio is currently 27.72%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PH. KeyCorp boosted their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Truist Financial dropped their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $710.12.

Get Our Latest Stock Report on Parker-Hannifin

About Parker-Hannifin

(Free Report)

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.

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