Parker-Hannifin Co. (NYSE:PH) Stock Position Trimmed by MCF Advisors LLC

MCF Advisors LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 87.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 141 shares of the industrial products company’s stock after selling 994 shares during the period. MCF Advisors LLC’s holdings in Parker-Hannifin were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Howard Capital Management Group LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $23,390,000. Fort Washington Investment Advisors Inc. OH boosted its stake in Parker-Hannifin by 11.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,644 shares of the industrial products company’s stock valued at $1,046,000 after purchasing an additional 164 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Parker-Hannifin by 53.3% during the 4th quarter. Atomi Financial Group Inc. now owns 1,125 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 391 shares during the period. Charles Schwab Trust Co raised its stake in shares of Parker-Hannifin by 16.6% in the 4th quarter. Charles Schwab Trust Co now owns 1,646 shares of the industrial products company’s stock worth $1,047,000 after buying an additional 234 shares in the last quarter. Finally, Aspiriant LLC lifted its holdings in shares of Parker-Hannifin by 8.0% in the fourth quarter. Aspiriant LLC now owns 485 shares of the industrial products company’s stock valued at $308,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, 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 transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PH. Robert W. Baird lifted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a report on Monday, November 18th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th. Mizuho upped their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Truist Financial increased 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. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $722.94.

Parker-Hannifin Trading Down 0.6 %

Shares of NYSE PH opened at $674.15 on Thursday. The firm has a market capitalization of $86.78 billion, a PE ratio of 30.45, a PEG ratio of 2.74 and a beta of 1.45. Parker-Hannifin Co. has a one year low of $463.16 and a one year high of $712.42. 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 business has a 50-day moving average price of $669.77 and a two-hundred day moving average price of $622.37.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm posted $5.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

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.