Ameriprise Financial Inc. Acquires 13,309 Shares of Parker-Hannifin Corporation $PH

Key Points

• Ameriprise Financial modestly increased its stake in Parker‑Hannifin, buying 13,309 shares to hold 2,207,996 shares (about a 1.75% stake) worth roughly $1.674 billion after the 3rd quarter.
• Parker‑Hannifin beat quarterly expectations with EPS of $7.65 vs. $7.11 and revenue of $5.17 billion, showing a 17.3% net margin and strong ROE, while analysts maintain a consensus "Moderate Buy" and an average price target near $995.
• Corporate insiders have been selling recently — including the COO and a VP — with 10,063 shares sold (~$9.89 million) in the last 90 days, and insiders now own just 0.32% of the stock.

Ameriprise Financial Inc. lifted its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,207,996 shares of the industrial products company's stock after purchasing an additional 13,309 shares during the quarter. Ameriprise Financial Inc. owned about 1.75% of Parker-Hannifin worth $1,674,132,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. ING Groep NV bought a new position in Parker-Hannifin during the 3rd quarter worth about $26,398,000. Quadrant Capital Group LLC lifted its holdings in shares of Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company's stock valued at $2,521,000 after purchasing an additional 604 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Wilkinson Global Asset Management LLC boosted its position in shares of Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company's stock worth $36,720,000 after buying an additional 10,653 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of Parker-Hannifin by 54.7% during the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company's stock worth $120,294,000 after buying an additional 56,103 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares of the company's stock, valued at $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,063 shares of company stock worth $9,891,214 in the last 90 days. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Down 1.3%

Shares of Parker-Hannifin stock opened at $890.28 on Friday. The stock has a market cap of $112.37 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.87 and a beta of 1.23. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. The business's 50 day moving average is $959.64 and its 200-day moving average is $858.78.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $5.07 billion. During the same period last year, the business earned $6.53 earnings per share. The firm's revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a dividend of $1.80 per share. The ex-dividend date was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin's payout ratio is currently 26.26%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PH. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Wednesday, February 4th. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Barclays boosted their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They set an "outperform" rating and a $1,020.00 target price for the company. Finally, Citigroup raised their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $995.37.

Parker-Hannifin Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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