Keybank National Association OH Cuts Holdings in Parker-Hannifin Corporation $PH

Key Points

• Keybank National Association OH trimmed its Parker‑Hannifin stake by 2.4% in Q4, selling 9,829 shares and now owns 407,149 shares (~0.32% of the company) worth about $357.9 million, making PH its 16th‑largest position.
• Parker‑Hannifin beat Q4 estimates with EPS of $7.65 versus a $7.11 consensus, delivered 9.1% revenue growth year‑over‑year, a 17.29% net margin and a 27.56% return on equity.
• The company raised its quarterly dividend to $2.00 (annualized $8.00, yield ~0.8%), while analysts remain broadly bullish (17 Buys, 4 Holds) with an average price target near $1,000.60.

Keybank National Association OH decreased its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 407,149 shares of the industrial products company's stock after selling 9,829 shares during the period. Parker-Hannifin comprises 1.3% of Keybank National Association OH's investment portfolio, making the stock its 16th biggest position. Keybank National Association OH owned approximately 0.32% of Parker-Hannifin worth $357,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin in the third quarter valued at $25,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after purchasing an additional 16 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Parker-Hannifin during the third quarter worth about $29,000. Ameriflex Group Inc. increased its stake in shares of Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock worth $32,000 after purchasing an additional 33 shares in the last quarter. Finally, Avion Wealth increased its stake in shares of Parker-Hannifin by 35.5% during the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company's stock worth $36,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 1.1%

Shares of NYSE PH opened at $963.45 on Wednesday. Parker-Hannifin Corporation has a 12-month low of $583.89 and a 12-month high of $1,034.96. The stock has a market cap of $121.60 billion, a PE ratio of 35.14, a P/E/G ratio of 3.13 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $951.16 and a 200 day moving average of $900.40.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted 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 firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business posted $6.53 EPS. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 31.04 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 8th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.18%.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. KeyCorp reissued an "overweight" rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Wall Street Zen raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Wednesday, February 4th. Finally, Barclays boosted their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,000.60.

Insider Buying and Selling

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,063 shares of company stock worth $9,891,214 over the last ninety days. 0.32% of the stock is currently owned by insiders.

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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