Wealthfront Advisers LLC Purchases 1,795 Shares of Parker-Hannifin Corporation $PH

Key Points

• Wealthfront Advisers LLC increased its stake in Parker‑Hannifin by 12.5%, purchasing 1,795 shares to hold 16,126 shares valued at about $14.17 million at the end of the quarter.
• Analyst sentiment is broadly positive—17 Buys vs. 4 Holds—with a consensus target of $1,000.60 and several firms (Morgan Stanley, Jefferies, Truist) recently raising price targets.
• Parker‑Hannifin beat quarterly EPS estimates ($7.65 vs. $7.11) with revenue up 9.1%, and the company raised its quarterly dividend to $2.00 (annualized $8.00), ex‑dividend on May 8.

Wealthfront Advisers LLC increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,126 shares of the industrial products company's stock after acquiring an additional 1,795 shares during the period. Wealthfront Advisers LLC's holdings in Parker-Hannifin were worth $14,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin in the 3rd quarter worth $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter worth $29,000. Ameriflex Group Inc. increased its holdings in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock worth $32,000 after buying an additional 33 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after buying an additional 16 shares during the last quarter. Finally, Morse Asset Management Inc increased its holdings in shares of 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 buying an additional 28 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

PH has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a report on Tuesday, April 21st. Wall Street Zen raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Wednesday, February 4th. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Jefferies Financial Group increased their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,000.60.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $963.45 on Wednesday. Parker-Hannifin Corporation has a 52-week low of $583.89 and a 52-week high of $1,034.96. The stock has a market capitalization of $121.60 billion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The company has a fifty day moving average of $951.16 and a 200-day moving average of $900.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating 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%. During the same period in the previous year, the business posted $6.53 earnings per share. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Corporation will post 31.04 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 8th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's dividend payout ratio is currently 29.18%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the sale, the vice president owned 6,534 shares of the company's stock, valued at $6,207,626.70. This represents a 16.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer directly owned 13,120 shares of the company's stock, valued at $13,106,880. The trade was a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,063 shares of company stock worth $9,891,214 over the last ninety days. 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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