Evergreen Capital Management LLC Raises Stake in Parker-Hannifin Corporation $PH

Evergreen Capital Management LLC boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 192.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,171 shares of the industrial products company’s stock after acquiring an additional 1,428 shares during the period. Evergreen Capital Management LLC’s holdings in Parker-Hannifin were worth $1,908,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PH. ING Groep NV purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth about $26,398,000. Procyon Advisors LLC raised its position in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Citigroup Inc. raised its position in shares of Parker-Hannifin by 54.7% in the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 56,103 shares during the last quarter. Wilkinson Global Asset Management LLC raised its position in shares of Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after purchasing an additional 10,653 shares during the last quarter. Finally, Advisors Capital Management LLC raised its position in shares of Parker-Hannifin by 140.0% in the 3rd quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after purchasing an additional 1,302 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PH shares. Truist Financial set a $1,139.00 price target on Parker-Hannifin in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. iA Financial set a $1,032.00 price target on Parker-Hannifin in a research report on Thursday, January 29th. Barclays lifted their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,000.60.

Parker-Hannifin Stock Down 1.9%

PH stock opened at $954.08 on Thursday. Parker-Hannifin Corporation has a 1-year low of $576.26 and a 1-year high of $1,034.96. The business has a fifty day moving average price of $953.27 and a 200-day moving average price of $892.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The stock has a market capitalization of $120.42 billion, a P/E ratio of 34.80, a P/E/G ratio of 3.13 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same period in the previous year, the company earned $6.53 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin Corporation will post 30.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares in the company, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.