CWA Asset Management Group LLC Has $279,000 Holdings in Parker-Hannifin Co. (NYSE:PH)

CWA Asset Management Group LLC increased its stake in Parker-Hannifin Co. (NYSE:PH) by 26.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 439 shares of the industrial products company’s stock after acquiring an additional 91 shares during the period. CWA Asset Management Group LLC’s holdings in Parker-Hannifin were worth $279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. West Branch Capital LLC bought a new position in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank boosted its stake in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the third quarter worth approximately $39,000. Finally, Capital Performance Advisors LLP acquired a new position in Parker-Hannifin in the third quarter valued at approximately $50,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $640.76 on Friday. 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 company has a market capitalization of $82.48 billion, a P/E ratio of 28.94, a P/E/G ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a 12 month low of $449.89 and a 12 month high of $712.42. The stock has a 50 day moving average of $673.38 and a 200-day moving average of $612.50.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.96 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Activity

In related news, VP Joseph R. Leonti sold 5,877 shares of the business’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 completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. Truist Financial upped their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wolfe Research raised 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 research note on Thursday, December 12th. Argus lifted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.