Parker-Hannifin Co. (NYSE:PH) Shares Bought by Twinbeech Capital LP

Twinbeech Capital LP grew its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 4,966.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,499 shares of the industrial products company's stock after acquiring an additional 81,851 shares during the period. Parker-Hannifin comprises 0.9% of Twinbeech Capital LP's portfolio, making the stock its 27th largest holding. Twinbeech Capital LP owned 0.06% of Parker-Hannifin worth $53,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $30,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $40,000. Finally, Meeder Asset Management Inc. raised its stake in Parker-Hannifin by 214.3% during the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock worth $42,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI increased their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday. Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, KeyCorp boosted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $718.44.

Parker-Hannifin Stock Down 0.8%

Shares of NYSE PH traded down $5.29 during trading on Thursday, reaching $656.49. 662,231 shares of the stock were exchanged, compared to its average volume of 721,004. The business's 50-day moving average price is $607.53 and its 200 day moving average price is $647.97. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $83.88 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the company posted $6.51 earnings per share. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.10%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at $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 SEC, which is accessible through this link. 0.39% of the stock is currently owned by corporate 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.