Parker-Hannifin Co. (NYSE:PH) Shares Bought by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC raised its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 43.8% 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 1,483 shares of the industrial products company's stock after acquiring an additional 452 shares during the quarter. Sax Wealth Advisors LLC's holdings in Parker-Hannifin were worth $943,000 as of its most recent SEC filing.

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

Parker-Hannifin Stock Performance

PH stock traded up $12.09 during trading on Friday, hitting $670.75. The company had a trading volume of 728,894 shares, compared to its average volume of 506,987. The firm has a 50-day moving average price of $670.95 and a 200-day moving average price of $618.53. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $86.34 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $458.09 and a 1-year high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PH. Wells Fargo & Company reduced their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Truist Financial raised their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. TD Cowen boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group increased their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $722.94.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,430 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company's stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares of the company's stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 over the last ninety days. Corporate insiders own 0.39% of the company's stock.

About Parker-Hannifin

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.