Parker-Hannifin Corporation $PH Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments raised its stake in Parker‑Hannifin by 3.5% to 70,672 shares (about $53.57 million), and institutional investors now own roughly 82.44% of the company.
• Quarterly results beat expectations—EPS $7.65 vs. $7.11 and revenue $5.17B (up 9.1% y/y)—and analysts have lifted targets and ratings (16 Buys vs. 5 Holds) with an average price target near $995.
• Insiders have been net sellers (12,551 shares sold, ~$12.12M in the last 90 days) even as the firm pays a $1.80 quarterly dividend (annualized yield ~0.8%) and trades at a market cap of about $119.9B with a P/E of 34.64.

Russell Investments Group Ltd. raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,672 shares of the industrial products company's stock after purchasing an additional 2,379 shares during the period. Russell Investments Group Ltd. owned 0.06% of Parker-Hannifin worth $53,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Berkshire Asset Management LLC PA boosted its holdings in Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company's stock worth $916,000 after acquiring an additional 13 shares in the last quarter. Bridgewater Advisors Inc. raised its position in shares of Parker-Hannifin by 2.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company's stock valued at $473,000 after purchasing an additional 13 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company's stock worth $747,000 after purchasing an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC boosted its stake in Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company's stock worth $3,559,000 after purchasing an additional 14 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in Parker-Hannifin by 0.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company's stock worth $1,280,000 after purchasing an additional 15 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PH. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Citigroup boosted their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a "buy" rating in a report on Friday, January 30th. Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Wednesday, February 4th. Wells Fargo & Company raised their target price on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Finally, BNP Paribas Exane assumed coverage on Parker-Hannifin in a research report on Thursday, December 4th. They set an "outperform" rating and a $1,020.00 price target for the company. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $995.37.

Insider Activity at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company's stock, valued at $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the business'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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,551 shares of company stock valued at $12,117,502 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Up 1.9%

PH stock opened at $949.78 on Wednesday. The company has a market capitalization of $119.88 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 3.00 and a beta of 1.23. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,034.96. The firm's fifty day simple moving average is $958.04 and its 200-day simple moving average is $856.23. 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 earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping 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 had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $5.07 billion. During the same quarter last year, the company posted $6.53 earnings per share. The firm's revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current 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 issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend 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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