Achmea Investment Management B.V. Lowers Holdings in Parker-Hannifin Corporation (NYSE:PH)

Achmea Investment Management B.V. trimmed its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 22.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,011 shares of the industrial products company's stock after selling 3,679 shares during the period. Achmea Investment Management B.V.'s holdings in Parker-Hannifin were worth $7,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin in the fourth quarter valued at $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $32,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock valued at $42,000 after buying an additional 45 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value 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 approximately $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 accessible through this hyperlink. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded up $9.26 during midday trading on Friday, reaching $700.97. The stock had a trading volume of 1,044,233 shares, compared to its average volume of 695,961. The firm has a market capitalization of $89.57 billion, a PE ratio of 26.99, a P/E/G ratio of 3.27 and a beta of 1.34. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The firm's 50-day moving average price is $648.74 and its 200 day moving average price is $642.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.51 earnings per share. As a group, research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.03%. Parker-Hannifin's dividend payout ratio (DPR) is 27.72%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PH shares. KeyCorp lifted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Truist Financial reduced 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. Barclays reduced their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Finally, Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $719.71.

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.