Royal London Asset Management Ltd. Acquires 1,789 Shares of Parker-Hannifin Co. (NYSE:PH)

Royal London Asset Management Ltd. raised its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,655 shares of the industrial products company's stock after acquiring an additional 1,789 shares during the period. Royal London Asset Management Ltd.'s holdings in Parker-Hannifin were worth $33,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wilkinson Global Asset Management LLC boosted its stake in Parker-Hannifin by 59.1% in the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company's stock valued at $24,700,000 after acquiring an additional 14,526 shares during the period. Banco Santander S.A. boosted its position in shares of Parker-Hannifin by 11.9% during the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company's stock worth $9,147,000 after buying an additional 1,544 shares during the period. Ritholtz Wealth Management boosted its position in shares of Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company's stock worth $931,000 after buying an additional 691 shares during the period. Deltec Asset Management LLC acquired a new position in shares of Parker-Hannifin during the second quarter worth approximately $506,000. Finally, FMR LLC boosted its position in shares of 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 period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on PH. Evercore ISI boosted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday. Raymond James upped their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Truist Financial upped their target price on Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Argus upped their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $704.88.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares of the company's stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % 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 valued at $12,303,829 in the last three months. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Up 0.2 %

NYSE:PH traded up $1.36 during trading hours on Friday, hitting $696.07. 371,921 shares of the stock traded hands, compared to its average volume of 634,709. The firm has a 50 day moving average price of $662.19 and a 200 day moving average price of $589.65. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a fifty-two week low of $431.98 and a fifty-two week high of $712.42. The firm has a market cap of $89.60 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.83 and a beta of 1.43.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin's dividend payout ratio (DPR) is currently 29.45%.

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.