KLP Kapitalforvaltning AS Has $42.80 Million Stock Holdings in Parker-Hannifin Corporation $PH

Key Points

• KLP Kapitalforvaltning AS raised its stake in Parker‑Hannifin by 3.6% in Q4 to 48,693 shares, valued at about $42.8 million per its SEC filing.
• Parker‑Hannifin beat quarterly estimates with $7.65 EPS versus $7.11 and revenue up 9.1% year‑over‑year; the stock has a $122.7 billion market cap and a consensus analyst price target of $1,000.60 (17 Buys, 4 Holds).
• Insiders have been selling recently—COO sold 4,664 shares and insiders disposed of 10,063 shares (~$9.89M) over the last 90 days—while institutional investors own about 82.44% of the company.

KLP Kapitalforvaltning AS boosted its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,693 shares of the industrial products company's stock after buying an additional 1,700 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Parker-Hannifin were worth $42,799,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PH. Procyon Advisors LLC lifted its holdings in Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Capital World Investors lifted its holdings in Parker-Hannifin by 7.0% during the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock worth $1,959,166,000 after buying an additional 169,073 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in Parker-Hannifin during the 3rd quarter worth $103,284,000. California Public Employees Retirement System lifted its holdings in Parker-Hannifin by 51.3% during the 3rd quarter. California Public Employees Retirement System now owns 336,247 shares of the industrial products company's stock worth $254,926,000 after buying an additional 114,008 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Parker-Hannifin during the 3rd quarter worth $86,046,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $972.26 on Wednesday. The firm has a fifty day moving average of $954.11 and a two-hundred day moving average of $892.52. The stock has a market capitalization of $122.72 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 3.21 and a beta of 1.25. Parker-Hannifin Corporation has a 52 week low of $554.22 and a 52 week high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts' consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the previous year, the company posted $6.53 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 30.99 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a $1.80 dividend. The ex-dividend date was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin's dividend payout ratio is currently 26.26%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research analysts have issued reports on PH shares. Citigroup upped their price objective on Parker-Hannifin from $1,092.00 to $1,137.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $1,000.60.

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.