Deutsche Bank AG Purchases 90,905 Shares of Parker-Hannifin Co. (NYSE:PH)

Deutsche Bank AG lifted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 596,017 shares of the industrial products company's stock after acquiring an additional 90,905 shares during the period. Deutsche Bank AG owned approximately 0.46% of Parker-Hannifin worth $379,085,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin in the 4th quarter valued at $30,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $40,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Parker-Hannifin by 214.3% during the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock worth $42,000 after buying an additional 45 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PH shares. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Evercore ISI raised their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Truist Financial reduced their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $710.12.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the business's 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 owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Trading Up 3.2%

Shares of PH traded up $20.82 during mid-day trading on Monday, reaching $668.41. 1,083,432 shares of the company were exchanged, compared to its average volume of 722,640. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $85.41 billion, a PE ratio of 27.67, a PEG ratio of 2.85 and a beta of 1.36. The business has a 50 day simple moving average of $598.40 and a two-hundred day simple moving average of $645.61.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the company earned $6.51 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

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.