Victory Capital Management Inc. Has $32.64 Million Stake in Parker-Hannifin Corporation $PH

Key Points

• Victory Capital Management cut its stake in Parker‑Hannifin by 5.6% in Q3, selling 2,536 shares and now holding 43,054 shares valued at about $32.64 million.
• Parker‑Hannifin recently beat estimates with EPS of $7.65 (vs. $7.11) and revenue of $5.17B (up 9.1% YoY), and analysts maintain a consensus "Moderate Buy" with a target price around $995.37.
• Insiders have sold 12,551 shares (roughly $12.12M) in the past 90 days, while the company pays a quarterly dividend of $1.80 ($7.20 annualized) for a yield of about 0.8%.

Victory Capital Management Inc. reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,054 shares of the industrial products company's stock after selling 2,536 shares during the quarter. Victory Capital Management Inc.'s holdings in Parker-Hannifin were worth $32,641,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PH. Brighton Jones LLC grew its holdings in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after purchasing an additional 101 shares during the period. Bison Wealth LLC increased its position in Parker-Hannifin by 4.5% during the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock worth $476,000 after buying an additional 32 shares during the last quarter. Empowered Funds LLC raised its stake 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 buying an additional 15 shares during the period. Acadian Asset Management LLC lifted its position in shares of Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock valued at $484,000 after buying an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. KeyCorp reissued an "overweight" rating and set a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Susquehanna reissued a "positive" rating and issued a $1,000.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, November 12th. The Goldman Sachs Group restated a "buy" rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $995.37.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $923.01 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The firm has a market cap 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. The stock's fifty day moving average price is $956.00 and its two-hundred day moving average price is $853.44. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $1,034.96.

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

Parker-Hannifin Announces Dividend

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

Insider Activity

In related news, VP Matthew A. Jacobson sold 564 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 1,457 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the sale, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,551 shares of company stock worth $12,117,502. Insiders own 0.32% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.