Parker-Hannifin Co. (NYSE:PH) Stake Trimmed by UMB Bank n.a.

UMB Bank n.a. lessened its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,640 shares of the industrial products company's stock after selling 719 shares during the period. UMB Bank n.a.'s holdings in Parker-Hannifin were worth $36,661,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. West Branch Capital LLC purchased a new position in Parker-Hannifin in the third quarter valued at approximately $25,000. Bangor Savings Bank raised its position in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin in the third quarter valued at $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of PH traded up $12.09 during mid-day trading on Monday, reaching $670.75. 728,894 shares of the company's stock traded hands, compared to its average volume of 506,987. Parker-Hannifin Co. has a 12 month low of $458.09 and a 12 month high of $712.42. The stock has a market capitalization of $86.34 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45. The business's 50-day moving average price is $670.95 and its 200-day moving average price is $620.05. 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 (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm 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%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.96 EPS. Equities analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PH. Barclays upped their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Argus upped their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company reduced their price objective on Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Mizuho lifted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $722.94.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company's stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock worth $12,303,829 over the last three months. Corporate insiders own 0.39% of the company's stock.

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.