Parker-Hannifin Corporation $PH Shares Acquired by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its stake in Parker-Hannifin by 23.2% to 32,583 shares worth $24.7 million, while institutional investors collectively own 82.44% of the company.
• Quarterly results beat expectations: the company reported $7.65 EPS versus $7.11 expected and $5.17 billion in revenue (up 9.1% year-over-year), with a 17.29% net margin and 27.56% ROE.
• Valuation and outlook: Parker-Hannifin has a $116.5 billion market cap and a 33.66 P/E, pays a $1.80 quarterly dividend (0.8% yield), and carries a consensus "Moderate Buy" target price of $995.37.

Blair William & Co. IL increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 23.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,583 shares of the industrial products company's stock after buying an additional 6,144 shares during the period. Blair William & Co. IL's holdings in Parker-Hannifin were worth $24,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ING Groep NV acquired a new position in Parker-Hannifin in the 3rd quarter valued at $26,398,000. Quadrant Capital Group LLC boosted its stake in Parker-Hannifin by 20.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company's stock worth $2,521,000 after purchasing an additional 604 shares during the last quarter. Procyon Advisors LLC grew its holdings in shares of Parker-Hannifin by 158,565.9% during the third 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. Wilkinson Global Asset Management LLC grew its holdings in shares of Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company's stock worth $36,720,000 after buying an additional 10,653 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company's stock valued at $120,294,000 after buying an additional 56,103 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of PH opened at $923.01 on Friday. The firm has a 50-day simple moving average of $956.00 and a two-hundred day simple moving average of $852.67. The stock has a market cap of $116.50 billion, a PE ratio of 33.66, a P/E/G ratio of 2.97 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 company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the prior year, the business posted $6.53 EPS. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders 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 currently 26.26%.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares of the company's stock, valued at approximately $13,106,880. This represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares of the company's stock, valued at $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,551 shares of company stock valued at $12,117,502. Corporate insiders own 0.32% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Citigroup raised their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Jefferies Financial Group boosted their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price target on Parker-Hannifin in a research report on Thursday, January 29th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $995.37.

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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