Eisler Capital Management Ltd. Makes New $14.24 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Eisler Capital Management Ltd. acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 22,625 shares of the industrial products company's stock, valued at approximately $14,237,000. Parker-Hannifin makes up 0.1% of Eisler Capital Management Ltd.'s investment portfolio, making the stock its 16th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in PH. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin in the 4th quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $30,000. Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $40,000. Finally, Meeder Asset Management Inc. grew its holdings 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 valued at $42,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were 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 approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Down 0.3%

PH traded down $1.89 during trading on Wednesday, hitting $676.53. 280,282 shares of the company's stock were exchanged, compared to its average volume of 721,992. 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 business's 50 day moving average is $599.90 and its two-hundred day moving average is $646.17. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The stock has a market cap of $86.45 billion, a P/E ratio of 28.00, a PEG ratio of 2.85 and a beta of 1.36.

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 firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company posted $6.51 earnings per share. The business's revenue was down 2.2% on a year-over-year basis. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. The ex-dividend date is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PH shares. 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. Citigroup cut their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, UBS Group dropped their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $710.12.

Parker-Hannifin 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.