Van Cleef Asset Management Inc Trims Position in Parker-Hannifin Co. (NYSE:PH)

Van Cleef Asset Management Inc reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. Wetzel Investment Advisors Inc. acquired a new position in Parker-Hannifin in the 4th quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. Baystate Wealth Management LLC lifted its stake in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares during the last quarter. Oakworth Capital Inc. lifted its stake in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth approximately $42,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In related news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction 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 sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 7,063 shares in the company, valued at $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 over the last quarter. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial assumed coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Barclays boosted 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Finally, Stifel Nicolaus upped their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $3.03 during trading hours on Thursday, hitting $549.38. The stock had a trading volume of 522,289 shares, compared to its average volume of 585,307. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The stock has a market capitalization of $70.55 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The stock’s fifty day moving average is $542.05 and its two-hundred day moving average is $476.11.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.76 earnings per share. As a group, analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

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.