Two Sigma Advisers LP Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Two Sigma Advisers LP lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 59.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,900 shares of the industrial products company's stock after selling 73,600 shares during the quarter. Two Sigma Advisers LP's holdings in Parker-Hannifin were worth $31,528,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Addison Advisors LLC bought a new position in Parker-Hannifin in the 2nd quarter valued at $25,000. West Branch Capital LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank grew its stake in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after acquiring an additional 31 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Parker-Hannifin during the 2nd quarter worth $39,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth $39,000. Institutional investors own 82.44% of the company's stock.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at $23,682,516.83. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 over the last three months. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Trading Up 0.2 %

Shares of NYSE:PH traded up $1.45 during midday trading on Friday, hitting $696.16. 371,942 shares of the stock traded hands, compared to its average volume of 499,162. The stock has a market capitalization of $89.61 billion, a PE ratio of 31.44, a P/E/G ratio of 2.81 and a beta of 1.43. The business's 50 day moving average is $663.46 and its two-hundred day moving average is $590.98. 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 Co. has a one year low of $431.98 and a one year high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.96 earnings per share. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Analyst Ratings Changes

PH has been the subject of several research reports. Truist Financial increased their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Stifel Nicolaus cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price objective on the stock. in a report on Monday, November 18th. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Robert W. Baird raised their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a report on Friday. Three 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.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average target price of $704.88.

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.