Van Cleef Asset Management Inc Sells 40 Shares of Parker-Hannifin Co. (NYSE:PH)

Van Cleef Asset Management Inc lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 819 shares of the industrial products company’s stock after selling 40 shares during the period. Van Cleef Asset Management Inc’s holdings in Parker-Hannifin were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PH. DAVENPORT & Co LLC grew its holdings in shares of Parker-Hannifin by 18.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 4,335 shares of the industrial products company’s stock worth $1,689,000 after purchasing an additional 671 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 104.9% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,094 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 1,072 shares in the last quarter. Strategic Blueprint LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth $284,000. Koshinski Asset Management Inc. grew its holdings in shares of Parker-Hannifin by 4.4% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,747 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 74 shares in the last quarter. Finally, Next Capital Management LLC boosted its stake in Parker-Hannifin by 4.5% in the third quarter. Next Capital Management LLC now owns 1,045 shares of the industrial products company’s stock valued at $407,000 after buying an additional 45 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.6 %

PH stock traded up $3.03 during mid-day trading on Thursday, reaching $549.38. The company’s stock had a trading volume of 522,289 shares, compared to its average volume of 585,307. The company has a market cap of $70.55 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. The business’s 50 day moving average price is $542.05 and its 200 day moving average price is $476.11. 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 12 month low of $309.89 and a 12 month high of $570.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. The firm 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 company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.76 earnings per share. On average, equities research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Insider Activity

In related 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 transaction of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a legal filing 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 business’s stock in a transaction 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 transaction, the vice president now 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 SEC, which can be accessed through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock worth $6,099,566 over the last quarter. 1.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on PH shares. Barclays raised their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Evercore ISI raised their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial began coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective on the stock. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Company 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.