Two Sigma Investments LP Sells 52,297 Shares of Parker-Hannifin Co. (NYSE:PH)

Two Sigma Investments LP cut its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 83.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,531 shares of the industrial products company's stock after selling 52,297 shares during the period. Two Sigma Investments LP's holdings in Parker-Hannifin were worth $6,698,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC grew its position in shares of Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after purchasing an additional 15 shares in the last quarter. FFT Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after buying an additional 15 shares during the period. GenTrust LLC grew its position in Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after buying an additional 15 shares in the last quarter. First Manhattan CO. LLC. grew its position in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after buying an additional 15 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC increased its stake in Parker-Hannifin by 0.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock worth $1,723,000 after acquiring an additional 16 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the business'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 owns 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Truist Financial dropped 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 report on Tuesday, April 8th. Finally, Barclays reduced 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 report on Thursday, April 10th. Four 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, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $718.44.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $1.44 during midday trading on Thursday, reaching $667.74. 314,264 shares of the company were exchanged, compared to its average volume of 814,872. The stock's 50-day moving average price is $611.33 and its 200-day moving average price is $647.41. The stock has a market cap of $85.32 billion, a P/E ratio of 27.64, a PEG ratio of 2.85 and a beta of 1.36. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the business posted $6.51 EPS. Parker-Hannifin's revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's payout ratio is 27.72%.

About Parker-Hannifin

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.