Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 46.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,598 shares of the industrial products company's stock after selling 17,629 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Parker-Hannifin were worth $12,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Parker-Hannifin by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock worth $6,903,962,000 after acquiring an additional 111,406 shares during the period. Geode Capital Management LLC increased its position in Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock worth $1,699,580,000 after buying an additional 99,261 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock worth $1,591,810,000 after acquiring an additional 198,292 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after acquiring an additional 1,137,564 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Parker-Hannifin by 9.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after acquiring an additional 172,064 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PH shares. Truist Financial cut their target price 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. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp upped their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Morgan Stanley initiated coverage on shares of Parker-Hannifin in a research note on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 target price for the company. Finally, Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $700.97 on Friday. The business's 50-day simple moving average is $648.74 and its 200 day simple moving average is $642.34. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market cap of $89.57 billion, a P/E ratio of 26.99, a PEG ratio of 3.27 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company's revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.51 earnings per share. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a $1.80 dividend. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated 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 transaction, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Parker-Hannifin Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.