72,270 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Woodline Partners LP

Woodline Partners LP purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 72,270 shares of the industrial products company's stock, valued at approximately $45,966,000. Woodline Partners LP owned about 0.06% of Parker-Hannifin as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on PH. Evercore ISI increased their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Citigroup dropped their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research report on Friday. Finally, KeyCorp lifted their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average price target of $718.44.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $679.71 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The stock has a market capitalization of $86.85 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The stock has a fifty day moving average of $604.68 and a 200-day moving average of $647.65.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.51 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. Parker-Hannifin's dividend payout ratio (DPR) is 27.72%.

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.

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