Wetzel Investment Advisors Inc. Takes $26,000 Position in Parker-Hannifin Co. (NYSE:PH)

Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 57 shares of the industrial products company’s stock, valued at approximately $26,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sapient Capital LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $1,392,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $3,305,000. 17 Capital Partners LLC acquired a new position in Parker-Hannifin in the 4th quarter worth about $2,271,000. HMS Capital Management LLC acquired a new position in Parker-Hannifin in the 4th quarter worth about $1,225,000. Finally, RFG Advisory LLC increased its holdings in Parker-Hannifin by 417.3% in the 4th 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 in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 0.9 %

Shares of PH stock opened at $539.72 on Tuesday. The company has a market cap of $69.31 billion, a P/E ratio of 26.72, a PEG ratio of 1.96 and a beta of 1.52. The stock has a 50 day simple moving average of $540.79 and a two-hundred day simple moving average of $474.50. 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 Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.76 earnings per share. Research analysts forecast that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin’s payout ratio is currently 29.31%.

Insiders Place Their Bets

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was 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 directly owns 7,063 shares in the company, valued at $3,552,265.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’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 value of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s 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 directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays upped their target price on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Truist Financial assumed coverage on Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price for the company. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. KeyCorp upped their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Evercore ISI upped their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

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.