Alley Investment Management Company LLC Purchases 5,582 Shares of Parker-Hannifin Corporation $PH

Key Points

• Alley Investment Management raised its stake in Parker‑Hannifin by 40.8% in Q4, buying an additional 5,582 shares to hold 19,263 shares valued at $16.93 million, representing 2.0% of the firm's portfolio and its 20th largest holding.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" (17 Buys, 4 Holds) and an average target price of $1,000.60, though recent targets diverged — Wells Fargo trimmed its target to $980 while Citigroup raised theirs to $1,137.
• Parker‑Hannifin recently reported a strong quarter with $7.65 EPS (beating estimates) and 9.1% revenue growth, has a $125.8 billion market cap and a P/E of 36.35, and pays a $1.80 quarterly dividend (annualized $7.20, 0.7% yield).

Alley Investment Management Company LLC raised its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,263 shares of the industrial products company's stock after acquiring an additional 5,582 shares during the period. Parker-Hannifin makes up 2.0% of Alley Investment Management Company LLC's portfolio, making the stock its 20th biggest holding. Alley Investment Management Company LLC's holdings in Parker-Hannifin were worth $16,931,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PH. Brighton Jones LLC boosted its holdings in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC boosted its holdings in Parker-Hannifin by 4.5% during the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after acquiring an additional 32 shares during the period. Empowered Funds LLC boosted its holdings in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after acquiring an additional 15 shares during the period. Acadian Asset Management LLC boosted its holdings in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock valued at $484,000 after acquiring an additional 166 shares during the period. Finally, Sivia Capital Partners LLC boosted its holdings in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after acquiring an additional 15 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PH. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Citigroup increased their target price on shares of Parker-Hannifin from $1,092.00 to $1,137.00 and gave the company a "buy" rating in a research note on Monday, April 13th. KeyCorp reiterated an "overweight" rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Wednesday, February 4th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $1,000.60.

Parker-Hannifin Stock Up 0.8%

Shares of PH opened at $996.65 on Tuesday. The stock has a market cap of $125.80 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 3.18 and a beta of 1.25. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12 month low of $538.08 and a 12 month high of $1,034.96. The company has a 50-day moving average price of $954.47 and a two-hundred day moving average price of $891.05.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts' consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.53 earnings per share. Equities analysts predict that Parker-Hannifin Corporation will post 30.99 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid 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 currently 26.26%.

Insider Activity

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president owned 1,000 shares in the company, valued at $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dinu J. Parel sold 1,316 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares of the company's stock, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is owned by company insiders.

Parker-Hannifin 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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