KBC Group NV Sells 5,720 Shares of Parker-Hannifin Corporation $PH

Key Points

• KBC Group NV trimmed its stake in Parker-Hannifin by 12.2% in Q4, selling 5,720 shares and ending the quarter with 41,061 shares valued at about $36.09 million.
• Insiders have been net sellers recently — VP Dinu J. Parel and CFO Todd M. Leombruno sold meaningful blocks (1,316 and 2,062 shares respectively), with insiders selling 10,063 shares worth about $9.89 million over the past three months and owning 0.32% of the stock.
• Analysts remain broadly positive (consensus "Moderate Buy", average target ~$1,000.60) while Parker‑Hannifin reported a Q4 EPS of $7.65 (beat) and revenue growth of 9.1%.

KBC Group NV decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,061 shares of the industrial products company's stock after selling 5,720 shares during the quarter. KBC Group NV's holdings in Parker-Hannifin were worth $36,091,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Chilton Capital Management LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $29,000. Ameriflex Group Inc. lifted its position in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock worth $32,000 after acquiring an additional 33 shares during the period. Avion Wealth lifted its position in shares of Parker-Hannifin by 35.5% in the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company's stock worth $36,000 after acquiring an additional 11 shares during the period. Finally, Morse Asset Management Inc lifted its position in shares of Parker-Hannifin by 164.7% in the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company's stock worth $34,000 after acquiring an additional 28 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Dinu J. Parel sold 1,316 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This trade represents a 16.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares of the company's stock, valued at $20,658,227.40. This trade represents a 9.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,063 shares of company stock worth $9,891,214 over the last three months. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PH shares. Barclays raised their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research report on Friday, April 10th. The Goldman Sachs Group reiterated a "buy" rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Citigroup raised their price objective on Parker-Hannifin from $1,092.00 to $1,137.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Morgan Stanley raised their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 24th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,000.60.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $955.43 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company has a market capitalization of $120.59 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 3.10 and a beta of 1.25. Parker-Hannifin Corporation has a one year low of $538.08 and a one year high of $1,034.96. The business has a 50 day simple moving average of $953.87 and a 200 day simple moving average of $885.89.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 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%.Parker-Hannifin's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.53 earnings per share. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin's dividend payout ratio (DPR) is 26.26%.

About Parker-Hannifin

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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