Ibex Wealth Advisors Takes $7.39 Million Position in Parker-Hannifin Co. (NYSE:PH)

Ibex Wealth Advisors bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,625 shares of the industrial products company's stock, valued at approximately $7,394,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its position in shares of Parker-Hannifin by 1.1% in the 4th quarter. Hantz Financial Services Inc. now owns 40,777 shares of the industrial products company's stock valued at $25,935,000 after purchasing an additional 445 shares during the last quarter. Forsta AP Fonden grew its position in shares of Parker-Hannifin by 3.5% in the 4th quarter. Forsta AP Fonden now owns 35,600 shares of the industrial products company's stock valued at $22,643,000 after buying an additional 1,200 shares during the last quarter. Smith Group Asset Management LLC grew its position in shares of Parker-Hannifin by 0.7% in the 4th quarter. Smith Group Asset Management LLC now owns 63,434 shares of the industrial products company's stock valued at $40,346,000 after buying an additional 415 shares during the last quarter. R Squared Ltd purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at $204,000. Finally, Mayflower Financial Advisors LLC grew its position in shares of Parker-Hannifin by 11.8% in the 4th quarter. Mayflower Financial Advisors LLC now owns 814 shares of the industrial products company's stock valued at $518,000 after buying an additional 86 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 5.7 %

NYSE:PH traded up $38.23 on Thursday, reaching $704.04. The stock had a trading volume of 1,113,918 shares, compared to its average volume of 631,944. 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 12-month low of $463.16 and a 12-month high of $712.42. The company has a 50-day moving average of $666.79 and a 200 day moving average of $627.94. The stock has a market cap of $90.62 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. On average, research analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin's payout ratio is currently 29.45%.

Analyst Upgrades and Downgrades

PH has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Truist Financial boosted their price objective 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. UBS Group started coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a "buy" rating and a $842.00 price target on the stock. Finally, Barclays boosted their price target on Parker-Hannifin from $703.00 to $800.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $722.81.

Insider Buying and Selling

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 12.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction on 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 transaction, the chief operating officer now owns 13,120 shares of the company's stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 in the last three months. 0.39% of the stock is owned by insiders.

Parker-Hannifin Company 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.