BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 14,409 Shares of Parker-Hannifin Co. (NYSE:PH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 21.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,440 shares of the industrial products company's stock after selling 14,409 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Parker-Hannifin were worth $32,717,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Focus Partners Advisor Solutions LLC increased its holdings in Parker-Hannifin by 38.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 1,679 shares of the industrial products company's stock worth $1,068,000 after acquiring an additional 462 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Parker-Hannifin by 44.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 865,970 shares of the industrial products company's stock worth $550,783,000 after buying an additional 265,768 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $5,077,000. Finally, Waverly Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $586,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Down 0.2%

Shares of PH stock traded down $1.37 on Friday, hitting $655.98. 430,799 shares of the company's stock traded hands, compared to its average volume of 718,556. The stock has a market capitalization of $83.82 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 2.85 and a beta of 1.36. 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 company's fifty day simple moving average is $609.02 and its 200 day simple moving average is $648.11. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.51 EPS. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.10%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Evercore ISI boosted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Citigroup cut their price target 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. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $718.44.

About Parker-Hannifin

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.