Parker-Hannifin Co. (NYSE:PH) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,215 shares of the industrial products company's stock after selling 4,190 shares during the quarter. Cumberland Partners Ltd's holdings in Parker-Hannifin were worth $5,167,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sapient Capital LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $1,392,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $3,305,000. 17 Capital Partners LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth about $2,271,000. HMS Capital Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth about $1,225,000. Finally, RFG Advisory LLC lifted its holdings in Parker-Hannifin by 417.3% in the fourth quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company's stock worth $1,477,000 after purchasing an additional 2,587 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PH shares. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a report on Wednesday, April 3rd. KeyCorp upped their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Truist Financial initiated coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a "buy" rating and a $602.00 price objective for the company. Finally, TD Cowen raised shares of Parker-Hannifin from an "underperform" rating to a "market perform" rating and upped their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $515.38.

Parker-Hannifin Trading Up 1.9 %

PH stock traded up $10.52 during mid-day trading on Tuesday, reaching $550.24. 375,725 shares of the stock traded hands, compared to its average volume of 584,863. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15. The company has a market cap of $70.66 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.96 and a beta of 1.52. The stock's fifty day moving average is $541.56 and its 200-day moving average is $475.61.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts' consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company 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 firm earned $4.76 earnings per share. The business's quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin's dividend payout ratio (DPR) is 29.31%.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 5,465 shares of the company's stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 5,465 shares of the company's stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $3,552,265.22. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 over the last three months. 1.03% of the stock is owned by corporate insiders.

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.

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