Hudson Bay Capital Management LP Sells 4,817 Shares of Parker-Hannifin Corporation $PH

Key Points

• Hudson Bay Capital Management cut its Parker‑Hannifin stake by 39.5%, selling 4,817 shares and holding 7,377 shares worth $5.593 million at quarter‑end.
• Parker‑Hannifin beat quarterly expectations with $7.65 EPS (vs. $7.11 est.) and 9.1% revenue growth, and analysts maintain a Moderate Buy consensus with an average target of $995.37 and multiple price‑target upgrades above $1,000.
• Insiders sold roughly 10,063 shares during the quarter (including sales by the CFO and a VP) while institutional investors own about 82.44% of the stock; the company also pays a $1.80 quarterly dividend ($7.20 annualized, 0.8% yield).

Hudson Bay Capital Management LP lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 39.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,377 shares of the industrial products company's stock after selling 4,817 shares during the quarter. Hudson Bay Capital Management LP's holdings in Parker-Hannifin were worth $5,593,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PH. Swiss Life Asset Management Ltd grew its position in Parker-Hannifin by 14.3% in the third quarter. Swiss Life Asset Management Ltd now owns 36,990 shares of the industrial products company's stock worth $28,044,000 after acquiring an additional 4,631 shares in the last quarter. Groupama Asset Managment raised its position in Parker-Hannifin by 9.8% during the third quarter. Groupama Asset Managment now owns 166,089 shares of the industrial products company's stock valued at $125,920,000 after purchasing an additional 14,836 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Parker-Hannifin during the third quarter worth about $13,365,000. Achmea Investment Management B.V. lifted its stake in Parker-Hannifin by 79.3% during the third quarter. Achmea Investment Management B.V. now owns 28,731 shares of the industrial products company's stock worth $21,782,000 after purchasing an additional 12,707 shares during the last quarter. Finally, Oarsman Capital Inc. boosted its holdings in shares of Parker-Hannifin by 4.4% in the 3rd quarter. Oarsman Capital Inc. now owns 3,969 shares of the industrial products company's stock worth $3,009,000 after purchasing an additional 166 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Down 0.8%

NYSE PH opened at $893.04 on Friday. The firm has a market cap of $112.72 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The stock has a 50-day moving average of $957.97 and a 200-day moving average of $862.79. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $6.53 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a $1.80 dividend. 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 dividend payout ratio (DPR) is currently 26.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PH shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. iA Financial set a $1,032.00 target price on Parker-Hannifin in a research report on Thursday, January 29th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. KeyCorp reissued an "overweight" rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $995.37.

Insider Buying and Selling

In related news, CFO Todd M. Leombruno sold 2,062 shares of the company's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president directly owned 6,534 shares of the company's stock, valued at $6,207,626.70. The trade was a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,063 shares of company stock valued at $9,891,214 over the last quarter. Company insiders own 0.32% of the company's stock.

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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