1,555 Shares in Parker-Hannifin Corporation $PH Purchased by Third View Private Wealth LLC

Key Points

• Third View Private Wealth LLC opened a new position of 1,555 shares in Parker‑Hannifin (NYSE:PH) in Q4, valued at about $1.37 million, joining other institutions that collectively own 82.44% of the stock (including a massive Procyon Advisors purchase).
• Company insiders have been net sellers recently — VP Berend Bracht and CFO Todd Leombruno sold large blocks — with insiders selling 10,063 shares valued at $9.89M in the last 90 days and now owning just 0.32% of the company.
• Parker‑Hannifin beat Q results (EPS $7.65 vs. $7.11 consensus, revenue up 9.1% year‑over‑year) and enjoys generally positive analyst coverage (17 Buys vs. 4 Holds, average target $1,000.60).

Third View Private Wealth LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,555 shares of the industrial products company's stock, valued at approximately $1,367,000.

Several other large investors have also recently added to or reduced their stakes in the company. Procyon Advisors LLC raised its holdings in Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Bank of America Corp DE raised its holdings in Parker-Hannifin by 0.6% during the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company's stock worth $2,960,266,000 after purchasing an additional 22,706 shares in the last quarter. Capital World Investors raised its holdings in Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock worth $1,959,166,000 after purchasing an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Parker-Hannifin by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company's stock worth $1,674,132,000 after purchasing an additional 13,309 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Parker-Hannifin by 0.5% during the third quarter. Envestnet Asset Management Inc. now owns 817,094 shares of the industrial products company's stock worth $619,480,000 after purchasing an additional 4,454 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Berend Bracht sold 1,457 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 owned 20,610 shares in the company, valued at approximately $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 have sold 10,063 shares of company stock valued at $9,891,214 in the last 90 days. Insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. BMO Capital Markets began coverage on shares of Parker-Hannifin in a report on Friday, March 27th. They issued an "outperform" rating and a $1,090.00 target price for the company. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $1,000.60.

Parker-Hannifin Stock Up 0.5%

PH stock opened at $989.62 on Tuesday. The company's 50 day simple moving average is $953.77 and its 200-day simple moving average is $883.20. The firm has a market capitalization of $124.91 billion, a PE ratio of 36.09, a P/E/G ratio of 3.17 and a beta of 1.25. Parker-Hannifin Corporation has a 12 month low of $538.08 and a 12 month high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period last year, the firm earned $6.53 EPS. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin's dividend payout ratio (DPR) is 26.26%.

Parker-Hannifin Company Profile

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.

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