Erste Asset Management GmbH acquired a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,000 shares of the industrial products company's stock, valued at approximately $1,898,000.
A number of other institutional investors and hedge funds have also bought and sold shares of PH. FMR LLC raised its holdings in Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after buying an additional 272,531 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Parker-Hannifin by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company's stock worth $1,007,102,000 after acquiring an additional 59,432 shares during the last quarter. Legal & General Group Plc boosted its holdings in Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after acquiring an additional 12,615 shares during the last quarter. Bank of Montreal Can boosted its holdings in Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company's stock worth $378,572,000 after acquiring an additional 76,629 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Parker-Hannifin by 18.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company's stock valued at $330,061,000 after purchasing an additional 99,959 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Price Performance
Shares of NYSE:PH traded down $4.34 on Wednesday, hitting $696.56. The company's stock had a trading volume of 428,850 shares, compared to its average volume of 636,554. The company has a 50-day simple moving average of $661.02 and a 200 day simple moving average of $588.91. Parker-Hannifin Co. has a 1 year low of $431.98 and a 1 year high of $712.42. The company has a market capitalization of $89.66 billion, a PE ratio of 31.46, a PEG ratio of 2.83 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter last year, the firm posted $5.96 EPS. The company's revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's payout ratio is currently 29.45%.
Insider Transactions at Parker-Hannifin
In other news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
PH has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Argus boosted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Mizuho boosted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Finally, Truist Financial boosted their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $691.40.
Read Our Latest Report on PH
Parker-Hannifin Company Profile
(
Free Report)
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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