Wright Investors Service Inc. Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Wright Investors Service Inc. increased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 236.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,185 shares of the industrial products company's stock after acquiring an additional 2,239 shares during the quarter. Wright Investors Service Inc.'s holdings in Parker-Hannifin were worth $2,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wealthspire Advisors LLC boosted its position in shares of Parker-Hannifin by 9.2% during the second quarter. Wealthspire Advisors LLC now owns 1,267 shares of the industrial products company's stock valued at $641,000 after purchasing an additional 107 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Parker-Hannifin by 6.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,273 shares of the industrial products company's stock valued at $1,150,000 after buying an additional 143 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Parker-Hannifin by 250.3% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,524 shares of the industrial products company's stock valued at $771,000 after buying an additional 1,089 shares in the last quarter. One Capital Management LLC increased its stake in shares of Parker-Hannifin by 146.7% in the 2nd quarter. One Capital Management LLC now owns 2,304 shares of the industrial products company's stock worth $1,165,000 after acquiring an additional 1,370 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in Parker-Hannifin by 1,262.8% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 20,714 shares of the industrial products company's stock valued at $10,477,000 after acquiring an additional 19,194 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value 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 ownership of the stock. 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 on 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 sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Stock Performance

NYSE:PH traded up $9.20 during trading hours on Tuesday, reaching $647.19. The company had a trading volume of 666,737 shares, compared to its average volume of 553,205. The firm has a market cap of $83.31 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.71 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. The firm's 50 day moving average price is $673.28 and its 200-day moving average price is $615.81. Parker-Hannifin Co. has a 52 week low of $453.18 and a 52 week high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during 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. Parker-Hannifin's revenue was up 1.2% compared to the same quarter last year. On average, analysts forecast 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. Investors of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's payout ratio is 29.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PH shares. Truist Financial raised their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. TD Cowen raised 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. UBS Group began coverage on Parker-Hannifin in a report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 target price on the stock. StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Finally, Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $722.94.

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.