KBC Group NV Acquires 28,268 Shares of Parker-Hannifin Co. (NYSE:PH)

KBC Group NV boosted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 272.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,633 shares of the industrial products company's stock after purchasing an additional 28,268 shares during the period. KBC Group NV's holdings in Parker-Hannifin were worth $24,409,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Parker-Hannifin by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company's stock valued at $5,872,694,000 after buying an additional 105,475 shares during the period. Boston Partners lifted its position in shares of Parker-Hannifin by 4.1% in the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company's stock worth $617,878,000 after purchasing an additional 43,535 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after purchasing an additional 12,615 shares during the period. AMF Tjanstepension AB grew its position in Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Parker-Hannifin by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company's stock valued at $378,572,000 after buying an additional 76,629 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Argus boosted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. KeyCorp raised their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Stifel Nicolaus boosted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Finally, Barclays raised their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average target price of $688.07.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 13,120 shares of the company's stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Performance

Shares of PH traded up $1.28 during mid-day trading on Friday, hitting $698.91. The company's stock had a trading volume of 530,753 shares, compared to its average volume of 645,390. The stock's 50-day moving average is $636.19 and its two-hundred day moving average is $574.94. The firm has a market capitalization of $89.96 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a one year low of $425.20 and a one year high of $711.60.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts' consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the firm earned $5.96 EPS. The business's revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

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.