Nordea Investment Management AB Has $123.91 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Nordea Investment Management AB decreased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 193,941 shares of the industrial products company's stock after selling 5,782 shares during the quarter. Nordea Investment Management AB owned about 0.15% of Parker-Hannifin worth $123,907,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Parker-Hannifin by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 2,621 shares of the industrial products company's stock valued at $1,667,000 after acquiring an additional 315 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Parker-Hannifin by 4.6% during the third quarter. Lord Abbett & CO. LLC now owns 565,082 shares of the industrial products company's stock valued at $357,030,000 after purchasing an additional 25,081 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Parker-Hannifin by 3.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,540 shares of the industrial products company's stock valued at $1,598,000 after purchasing an additional 90 shares in the last quarter. 1ST Source Bank lifted its holdings in Parker-Hannifin by 6.2% in the third quarter. 1ST Source Bank now owns 631 shares of the industrial products company's stock worth $399,000 after purchasing an additional 37 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new position in Parker-Hannifin in the 3rd quarter valued at about $2,521,000. Institutional investors own 82.44% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PH shares. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating for the company in a research note on Tuesday. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Stifel Nicolaus cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price target on the stock. in a research report on Monday, November 18th. Barclays upped their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, 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 research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $722.94.

Parker-Hannifin Trading Down 0.9 %

Parker-Hannifin stock traded down $5.63 during midday trading on Tuesday, reaching $635.37. The stock had a trading volume of 658,459 shares, compared to its average volume of 558,865. The firm's fifty day simple moving average is $672.93 and its two-hundred day simple moving average is $612.10. 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 Co. has a twelve month low of $449.89 and a twelve month high of $712.42. The firm has a market cap of $81.78 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.71 and a beta of 1.45.

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. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.96 earnings per share. Equities analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.

Insider Activity at Parker-Hannifin

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the sale, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company's stock, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Company 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.