Moran Wealth Management LLC Trims Stake in Parker-Hannifin Corporation $PH

Key Points

• Moran Wealth Management LLC trimmed its stake in Parker‑Hannifin by 8.7% in Q4, selling 6,958 shares and leaving 73,069 shares (about 0.06% of the company) valued at $64.224 million — PH represents 2.0% of the fund and is its 2nd-largest position.
• Analyst sentiment is positive: the consensus is a Moderate Buy with an average target of $1,000.60, and several firms (including Jefferies and Barclays) recently raised price targets and ratings.
• Parker‑Hannifin reported strong results (Q EPS $7.65 vs. $7.11 expected; revenue +9.1% YoY) and pays a quarterly dividend of $1.80 ($7.20 annual, ~0.7% yield).

Moran Wealth Management LLC decreased its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,069 shares of the industrial products company's stock after selling 6,958 shares during the quarter. Parker-Hannifin accounts for 2.0% of Moran Wealth Management LLC's portfolio, making the stock its 2nd largest position. Moran Wealth Management LLC owned about 0.06% of Parker-Hannifin worth $64,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Procyon Advisors LLC lifted its holdings in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Parker-Hannifin by 0.6% during the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company's stock valued at $2,960,266,000 after purchasing an additional 22,706 shares during the last quarter. Capital World Investors grew its holdings in shares of Parker-Hannifin by 7.0% during the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock valued at $1,959,166,000 after purchasing an additional 169,073 shares during the last quarter. Ameriprise Financial Inc. raised its position in Parker-Hannifin by 0.6% in the 3rd 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 during the period. Finally, Envestnet Asset Management Inc. raised its position in Parker-Hannifin by 0.5% in the 3rd 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 during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PH shares. Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research note on Friday, April 10th. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research note on Thursday, January 29th. Wall Street Zen raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Wednesday, February 4th. Finally, Barclays increased their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average target price of $1,000.60.

Parker-Hannifin Stock Performance

NYSE:PH opened at $989.43 on Friday. The stock has a market cap of $124.89 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 3.08 and a beta of 1.25. The firm's fifty day simple moving average is $954.10 and its 200 day simple moving average is $887.53. Parker-Hannifin Corporation has a twelve month low of $538.08 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.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.29% and a return on equity of 27.56%. During the same period last year, the firm posted $6.53 earnings per share. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were issued 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 dividend yield of 0.7%. Parker-Hannifin's dividend payout ratio is 26.26%.

Insider Transactions at Parker-Hannifin

In other news, VP Dinu J. Parel sold 1,316 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This trade represents a 16.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the company's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by 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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