Buffington Mohr McNeal Purchases 1,697 Shares of Parker-Hannifin Co. (NYSE:PH)

Buffington Mohr McNeal grew its position in Parker-Hannifin Co. (NYSE:PH) by 35.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,469 shares of the industrial products company’s stock after acquiring an additional 1,697 shares during the quarter. Buffington Mohr McNeal’s holdings in Parker-Hannifin were worth $4,115,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Greenup Street Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 420.8% in the 4th quarter. Greenup Street Wealth Management LLC now owns 4,083 shares of the industrial products company’s stock worth $2,597,000 after purchasing an additional 3,299 shares during the period. Nilsine Partners LLC boosted its stake in Parker-Hannifin by 7.1% during the fourth quarter. Nilsine Partners LLC now owns 3,883 shares of the industrial products company’s stock worth $2,470,000 after buying an additional 258 shares during the period. Foundations Investment Advisors LLC increased its position in Parker-Hannifin by 2.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,515 shares of the industrial products company’s stock valued at $963,000 after acquiring an additional 33 shares during the last quarter. Heirloom Wealth Management raised its stake in shares of Parker-Hannifin by 6.9% during the fourth quarter. Heirloom Wealth Management now owns 15,233 shares of the industrial products company’s stock valued at $9,689,000 after acquiring an additional 981 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $629,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Joseph R. Leonti sold 5,877 shares of the business’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. The trade was a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 5,465 shares in the company, 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. Insiders have sold 18,077 shares of company stock worth $12,303,829 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $662.54 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm’s 50 day simple moving average is $668.38 and its 200-day simple moving average is $625.84. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $712.42. The stock has a market capitalization of $85.28 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share 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 company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company earned $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts expect that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 29.45%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PH shares. Barclays increased their price target on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wolfe Research raised shares of 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. KeyCorp boosted their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Mizuho increased their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

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.