BNC Wealth Management LLC Has $1.17 Million Position in Parker-Hannifin Co. (NYSE:PH)

BNC Wealth Management LLC lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,838 shares of the industrial products company’s stock after selling 63 shares during the quarter. BNC Wealth Management LLC’s holdings in Parker-Hannifin were worth $1,169,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Moss Adams Wealth Advisors LLC increased its holdings in Parker-Hannifin by 8.3% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 598 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 46 shares during the last quarter. Financial Advisors LLC lifted its position in Parker-Hannifin by 12.6% in the 4th quarter. Financial Advisors LLC now owns 954 shares of the industrial products company’s stock worth $607,000 after buying an additional 107 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its position in Parker-Hannifin by 1.9% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 1,090 shares of the industrial products company’s stock worth $706,000 after buying an additional 20 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in Parker-Hannifin by 63.2% in the fourth quarter. Ameritas Advisory Services LLC now owns 2,675 shares of the industrial products company’s stock valued at $1,701,000 after purchasing an additional 1,036 shares during the last quarter. Finally, HB Wealth Management LLC lifted its position in Parker-Hannifin by 26.0% in the fourth quarter. HB Wealth Management LLC now owns 4,962 shares of the industrial products company’s stock valued at $3,156,000 after purchasing an additional 1,024 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’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 owns 33,607 shares in the company, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Up 1.8 %

Shares of PH stock opened at $670.75 on Friday. The stock’s 50-day simple moving average is $670.95 and its 200-day simple moving average is $618.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a market capitalization of $86.34 billion, a PE ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $458.09 and a fifty-two week high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the business earned $5.96 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders 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 dividend on an annualized basis and a yield of 0.97%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PH shares. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Truist Financial lifted their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group lifted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

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.