Turtle Creek Wealth Advisors LLC Purchases Shares of 7,173 Parker-Hannifin Co. (NYSE:PH)

Turtle Creek Wealth Advisors LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,173 shares of the industrial products company's stock, valued at approximately $3,305,000. Parker-Hannifin accounts for 1.0% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 29th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its position in shares of Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company's stock valued at $27,000 after purchasing 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 approximately $29,000. First Capital Advisors Group LLC. acquired a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $30,000. Finally, Oakworth Capital Inc. grew its position in shares of Parker-Hannifin by 48.3% in 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.

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 3,904 shares of the company's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company's stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PH. Barclays upped their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Truist Financial began coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They set a "buy" rating and a $602.00 price objective on the stock. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an "outperform" rating in a research note on Tuesday, February 20th. Wolfe Research reissued a "peer perform" rating on shares of Parker-Hannifin in a research note on Monday, December 11th. Finally, TD Cowen raised shares of Parker-Hannifin from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus target price of $511.31.

Parker-Hannifin Stock Down 0.8 %

Shares of Parker-Hannifin stock traded down $4.58 during trading on Tuesday, reaching $561.35. The company had a trading volume of 483,382 shares, compared to its average volume of 596,527. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The company has a market cap of $72.08 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.52. The firm's fifty day moving average is $532.38 and its 200-day moving average is $463.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS 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 analyst estimates of $4.82 billion. During the same period in the prior year, the business earned $4.76 earnings per share. The business's quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Co. will post 24.25 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.31%.

Parker-Hannifin Profile

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.