Financial Synergies Wealth Advisors Inc. Buys 44 Shares of Parker-Hannifin Co. (NYSE:PH)

Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 67.7% in the first quarter, Holdings Channel reports. The firm owned 109 shares of the industrial products company’s stock after acquiring an additional 44 shares during the period. Financial Synergies Wealth Advisors Inc.’s holdings in Parker-Hannifin were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PH. Beaumont Asset Management L.L.C. lifted its holdings in shares of Parker-Hannifin by 0.8% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after buying an additional 24 shares during the last quarter. M&R Capital Management Inc. lifted its holdings in shares of Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after buying an additional 25 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Parker-Hannifin by 0.7% during the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after buying an additional 25 shares during the last quarter. Keel Point LLC lifted its holdings in shares of Parker-Hannifin by 3.1% during the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after buying an additional 25 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Parker-Hannifin by 1.8% during the fourth quarter. Great Valley Advisor Group Inc. now owns 1,410 shares of the industrial products company’s stock worth $650,000 after buying an additional 25 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. Argus upped their target price on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Wells Fargo & Company decreased their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Truist Financial reiterated a “buy” rating and issued a $611.00 price target on shares of Parker-Hannifin in a report on Wednesday, May 15th. Finally, KeyCorp raised their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $566.33.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $510.29 on Tuesday. The stock has a 50 day moving average of $533.82 and a 200-day moving average of $514.38. The company has a market capitalization of $65.59 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.02 and a beta of 1.46. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $570.15. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $5.93 EPS. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.28%. Parker-Hannifin’s payout ratio is currently 30.73%.

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.