BW Gestao de Investimentos Ltda. Buys New Shares in Parker-Hannifin Co. (NYSE:PH)

BW Gestao de Investimentos Ltda. purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,750 shares of the industrial products company's stock, valued at approximately $3,657,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock worth $6,903,962,000 after acquiring an additional 111,406 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after purchasing an additional 99,261 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after purchasing an additional 198,292 shares in the last quarter. Norges Bank bought a new position in Parker-Hannifin in the 4th quarter worth approximately $1,106,132,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Parker-Hannifin by 17.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company's stock worth $1,018,185,000 after buying an additional 237,634 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated 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 transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Trading Up 0.8 %

Shares of PH traded up $5.14 during trading hours on Friday, reaching $644.84. The stock had a trading volume of 782,431 shares, compared to its average volume of 717,389. The company has a market cap of $83.00 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average of $597.93 and a 200 day moving average of $645.23.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.12%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is presently 27.72%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PH. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday. KeyCorp lifted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Truist Financial cut their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus 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.