Aubrey Capital Management Ltd Purchases New Holdings in Parker-Hannifin Co. (NYSE:PH)

Aubrey Capital Management Ltd bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 6,200 shares of the industrial products company’s stock, valued at approximately $2,858,000. Parker-Hannifin accounts for 1.2% of Aubrey Capital Management Ltd’s investment portfolio, making the stock its 25th biggest holding.

Other large investors have also modified their holdings of the company. Beaumont Asset Management L.L.C. grew its holdings in 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 acquiring an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after acquiring an additional 25 shares during the period. M&R Capital Management Inc. grew its holdings in 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 acquiring an additional 25 shares during the period. Private Trust Co. NA grew its holdings in 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 acquiring an additional 25 shares during the period. Finally, Keel Point LLC grew its holdings in 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 acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 in the last ninety days. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Up 0.8 %

PH traded up $4.26 during midday trading on Friday, hitting $553.64. The company’s stock had a trading volume of 548,739 shares, compared to its average volume of 492,829. The firm has a market cap of $71.09 billion, a P/E ratio of 27.40, a PEG ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a 52-week low of $312.36 and a 52-week high of $570.15. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $543.27 and a two-hundred day moving average price of $477.71.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. Parker-Hannifin’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.76 earnings per share. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is 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 dividend yield of 1.18%. Parker-Hannifin’s payout ratio is currently 29.31%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PH shares. Truist Financial initiated coverage on Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective on the stock. Evercore ISI upped their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus upped their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin 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.