Parker-Hannifin Co. (NYSE:PH) Holdings Lifted by Empirical Asset Management LLC

Empirical Asset Management LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,199 shares of the industrial products company's stock after acquiring an additional 3,119 shares during the period. Empirical Asset Management LLC's holdings in Parker-Hannifin were worth $10,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $39,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

NYSE:PH traded up $12.09 during midday trading on Friday, hitting $670.75. 728,894 shares of the stock were exchanged, compared to its average volume of 571,745. The company has a market capitalization of $86.34 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a one year low of $458.09 and a one year high of $712.42. The business has a 50-day moving average price of $671.45 and a two-hundred day moving average price of $617.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts' consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.96 EPS. Sell-side analysts predict that Parker-Hannifin Co. will post 26.75 EPS 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 dividend of $1.63 per share. 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 dividend payout ratio (DPR) is 29.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on PH. Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. TD Cowen boosted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research report on Tuesday, November 12th. Robert W. Baird increased their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Stifel Nicolaus cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 target price on the stock. in a research note on Monday, November 18th. Finally, Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average target price of $722.94.

Insider Transactions at Parker-Hannifin

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction 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 transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company's stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last quarter. Insiders own 0.39% of the company's stock.

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.