Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 34.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,979 shares of the industrial products company's stock after purchasing an additional 2,039 shares during the period. Quantinno Capital Management LP's holdings in Parker-Hannifin were worth $5,042,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PH. International Assets Investment Management LLC boosted its holdings in Parker-Hannifin by 64,081.5% in the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock worth $241,279,000 after buying an additional 381,285 shares during the period. Mizuho Securities USA LLC boosted its stake in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock worth $229,541,000 after acquiring an additional 353,393 shares during the period. FMR LLC raised its stake in Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Parker-Hannifin in the third quarter worth $99,780,000. Finally, Mackenzie Financial Corp grew its stake in Parker-Hannifin by 107.7% during the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company's stock valued at $137,437,000 after acquiring an additional 140,898 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.2 %

PH stock traded up $1.45 during trading on Friday, hitting $696.16. 371,942 shares of the company's stock traded hands, compared to its average volume of 499,162. Parker-Hannifin Co. has a 1 year low of $431.98 and a 1 year high of $712.42. The business has a fifty day simple moving average of $663.46 and a two-hundred day simple moving average of $590.98. The firm has a market capitalization of $89.61 billion, a P/E ratio of 31.44, a PEG ratio of 2.81 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping 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 business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the company posted $5.96 earnings per share. The firm's revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin's dividend payout ratio is presently 29.45%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PH. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Truist Financial upped their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Finally, KeyCorp lifted their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $704.88.

Insider Transactions at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of the firm's stock in a transaction 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 completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company's stock.

About Parker-Hannifin

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.