Artemis Investment Management LLP Purchases Shares of 85,591 Parker-Hannifin Co. (NYSE:PH)

Artemis Investment Management LLP bought a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,591 shares of the industrial products company's stock, valued at approximately $54,078,000. Artemis Investment Management LLP owned approximately 0.07% of Parker-Hannifin as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TD Asset Management Inc grew its position in Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company's stock valued at $73,493,000 after purchasing an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Parker-Hannifin by 8.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company's stock valued at $12,761,000 after acquiring an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 261.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company's stock worth $1,397,000 after acquiring an additional 1,819 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company's stock worth $9,540,000 after acquiring an additional 6,029 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Parker-Hannifin by 16.5% during the first quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company's stock valued at $23,634,000 after purchasing an additional 6,013 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded up $5.45 on Wednesday, hitting $632.79. The company's stock had a trading volume of 343,872 shares, compared to its average volume of 642,868. The company has a fifty day moving average price of $590.07 and a 200-day moving average price of $555.21. The firm has a market cap of $81.34 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $639.87. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $6.08 EPS. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin's dividend payout ratio is currently 30.73%.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company's stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares of the company's stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PH shares. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research report on Monday. Evercore ISI raised their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Truist Financial increased their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Raymond James boosted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $649.86.

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.