International Assets Investment Management LLC reduced its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 99.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 904 shares of the industrial products company's stock after selling 380,976 shares during the period. International Assets Investment Management LLC's holdings in Parker-Hannifin were worth $569,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Private Advisor Group LLC grew its holdings in Parker-Hannifin by 20.2% in the 2nd quarter. Private Advisor Group LLC now owns 5,277 shares of the industrial products company's stock valued at $2,669,000 after buying an additional 885 shares in the last quarter. Acadian Asset Management LLC increased its position in Parker-Hannifin by 101.0% during the second quarter. Acadian Asset Management LLC now owns 6,742 shares of the industrial products company's stock worth $3,406,000 after acquiring an additional 3,388 shares during the period. Forsta AP Fonden raised its stake in Parker-Hannifin by 4.7% in the 2nd quarter. Forsta AP Fonden now owns 29,100 shares of the industrial products company's stock worth $14,719,000 after purchasing an additional 1,300 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in Parker-Hannifin in the 2nd quarter valued at about $1,149,000. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Parker-Hannifin by 1.1% during the second quarter. Main Street Financial Solutions LLC now owns 2,592 shares of the industrial products company's stock worth $1,311,000 after purchasing an additional 27 shares during the period. 82.44% of the stock is owned by institutional investors.
Insider Buying and Selling at Parker-Hannifin
In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company's stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company's stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 over the last ninety days. 0.39% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on PH shares. Stifel Nicolaus cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price target for the company. in a research note on Monday, November 18th. Truist Financial upped their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Wells Fargo & Company cut their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price of $722.94.
View Our Latest Analysis on PH
Parker-Hannifin Stock Performance
Shares of Parker-Hannifin stock traded down $11.50 during trading hours on Friday, hitting $630.00. 612,774 shares of the company's stock traded hands, compared to its average volume of 548,012. The stock has a market capitalization of $81.09 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a 12-month low of $453.18 and a 12-month high of $712.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a fifty day simple moving average of $673.28 and a 200-day simple moving average of $614.08.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.96 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.
Parker-Hannifin Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.
About Parker-Hannifin
(
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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