Vaughan Nelson Investment Management L.P. Reduces Stock Position in Parker-Hannifin Corporation $PH

Vaughan Nelson Investment Management L.P. lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,182 shares of the industrial products company’s stock after selling 925 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Parker-Hannifin were worth $37,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new stake in Parker-Hannifin in the third quarter valued at $29,000. Ameriflex Group Inc. increased its position in Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares during the period. Morse Asset Management Inc raised its holdings in Parker-Hannifin by 164.7% in the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PH. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Morgan Stanley lifted their price target on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Jefferies Financial Group upped their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,000.10.

Insider Activity at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This trade represents a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,063 shares of company stock worth $9,891,214 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $861.42 on Tuesday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $108.73 billion, a P/E ratio of 31.42, a PEG ratio of 2.86 and a beta of 1.23. The stock’s 50 day moving average is $953.27 and its 200 day moving average is $870.26.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same period in the prior year, the business earned $6.53 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a $1.80 dividend. The ex-dividend date was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s payout ratio is presently 26.26%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.