International Assets Investment Management LLC Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

International Assets Investment Management LLC increased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 65,634.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,554 shares of the industrial products company's stock after purchasing an additional 219,220 shares during the period. International Assets Investment Management LLC owned about 0.17% of Parker-Hannifin worth $101,149,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Baystate Wealth Management LLC grew its position in Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company's stock worth $27,000 after acquiring an additional 49 shares during the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Parker-Hannifin in the third quarter valued at $29,000. First Capital Advisors Group LLC. acquired a new position in shares of Parker-Hannifin during the second quarter worth approximately $30,000. Finally, Oakworth Capital Inc. grew its stake in shares of Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 28 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PH. TD Cowen upgraded Parker-Hannifin from an "underperform" rating to a "market perform" rating and lifted their price objective for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a "buy" rating in a research report on Wednesday. Truist Financial assumed coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a "buy" rating and a $602.00 price target on the stock. Wells Fargo & Company increased their target price on Parker-Hannifin from $450.00 to $510.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 19th. Finally, KeyCorp increased their price objective on shares of Parker-Hannifin from $500.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $511.31.

Parker-Hannifin Stock Up 2.0 %

PH stock traded up $11.02 during mid-day trading on Friday, reaching $566.67. The company had a trading volume of 480,897 shares, compared to its average volume of 499,903. The company has a market capitalization of $72.77 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 2.04 and a beta of 1.52. Parker-Hannifin Co. has a 52 week low of $308.26 and a 52 week high of $570.15. The stock has a 50 day simple moving average of $530.59 and a two-hundred day simple moving average of $461.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period last year, the business earned $4.76 earnings per share. The firm's revenue was up 3.1% on a year-over-year basis. As a group, equities analysts predict that Parker-Hannifin Co. will post 24.25 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin's payout ratio is presently 29.31%.

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark J. Hart sold 5,197 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares in the company, valued at $3,552,265.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,079 shares of company stock worth $6,099,566. Company insiders own 1.03% of the company's stock.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.