Pinnbrook Capital Management LP Invests $4.30 Million in Parker-Hannifin Co. (NYSE:PH)

Pinnbrook Capital Management LP acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,341 shares of the industrial products company's stock, valued at approximately $4,303,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beaumont Asset Management L.L.C. boosted its position in Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company's stock valued at $1,415,000 after buying an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its holdings in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company's stock worth $1,417,000 after buying an additional 25 shares in the last quarter. M&R Capital Management Inc. lifted its holdings in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA raised its position in shares of Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company's stock valued at $1,730,000 after buying an additional 25 shares during the last quarter. Finally, Keel Point LLC increased its position in Parker-Hannifin by 3.1% during the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company's stock worth $388,000 after purchasing an additional 25 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PH. Barclays lifted their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $450.00 to $510.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 19th. Finally, Truist Financial began coverage on Parker-Hannifin in a report on Thursday, March 14th. They issued a "buy" rating and a $602.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus target price of $511.31.

Parker-Hannifin Trading Down 0.1 %

PH stock traded down $0.74 during midday trading on Monday, reaching $565.93. The stock had a trading volume of 443,890 shares, compared to its average volume of 598,144. The firm has a market cap of $72.67 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.08 and a beta of 1.52. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15. The business has a fifty day simple moving average of $532.38 and a two-hundred day simple moving average of $463.29. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.76 EPS. As a group, research analysts expect that Parker-Hannifin Co. will post 24.25 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin's dividend payout ratio is currently 29.31%.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the business's stock in a transaction that occurred 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 directly owns 5,465 shares of the company's stock, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mark J. Hart sold 5,197 shares of the company's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the company's stock in a transaction on 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 sale, the vice president now owns 5,465 shares of the company's stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock worth $6,099,566 in the last 90 days. Corporate 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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Co. (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.