Rathbones Group PLC Acquires 28,085 Shares of Parker-Hannifin Corporation $PH

Key Points

• Rathbones Group PLC increased its stake in Parker-Hannifin by 32.9%, buying 28,085 shares to hold 113,345 shares worth about $85.9 million (≈0.09% of the company).
• Parker-Hannifin beat quarterly expectations with EPS $7.65 vs $7.11 and revenue of $5.17 billion (up 9.1% YoY); the stock recently opened around $923, is down 4.4%, and the company has a $116.5 billion market cap.
• Insiders sold 12,551 shares (~$12.1M) in the last 90 days (insider ownership 0.32%), while analysts rate the stock a Moderate Buy with an average target near $995.37.

Rathbones Group PLC raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,345 shares of the industrial products company's stock after buying an additional 28,085 shares during the period. Rathbones Group PLC owned about 0.09% of Parker-Hannifin worth $85,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the last quarter. Bison Wealth LLC lifted its position in Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after purchasing an additional 32 shares during the last quarter. Empowered Funds LLC lifted its position in Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after purchasing an additional 15 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock valued at $484,000 after purchasing an additional 166 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after purchasing an additional 15 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 4.4%

Shares of NYSE PH opened at $923.01 on Friday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. 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 firm's 50-day moving average price is $956.00 and its 200-day moving average price is $852.67. The stock has a market capitalization of $116.50 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 2.97 and a beta of 1.23.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.53 EPS. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin's dividend payout ratio is 26.26%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PH. KeyCorp reaffirmed an "overweight" rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an "overweight" rating in a report on Friday, January 30th. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research report on Thursday, January 29th. Finally, BNP Paribas Exane started coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They issued an "outperform" rating and a $1,020.00 target price for the company. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $995.37.

Insider Buying and Selling

In related news, 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 value 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. The trade was a 36.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin 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 sale, the chief financial officer owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 insiders.

Parker-Hannifin Company 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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