7,154 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by FORA Capital LLC

FORA Capital LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,154 shares of the industrial products company's stock, valued at approximately $4,550,000.

Several other large investors have also recently bought and sold shares of PH. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC grew its position in shares of Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after buying an additional 21,521 shares during the period. Columbus Macro LLC increased its stake in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock valued at $6,838,000 after acquiring an additional 8,914 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after acquiring an additional 25,605 shares during the period. Finally, HUB Investment Partners LLC raised its holdings in Parker-Hannifin by 15.7% in the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock worth $4,960,000 after purchasing an additional 1,057 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Insiders Place Their Bets

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Up 1.0 %

Shares of NYSE PH traded up $6.10 during trading hours on Friday, hitting $647.60. The company had a trading volume of 1,298,766 shares, compared to its average volume of 721,192. The stock has a market capitalization of $83.36 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The firm's 50 day moving average is $598.40 and its 200-day moving average is $645.46. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $6.51 EPS. Parker-Hannifin's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.11%. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Analysts Set New Price Targets

A number of research firms recently commented on PH. Truist Financial lowered their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Evercore ISI boosted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. KeyCorp increased their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $710.12.

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.