Hudson Bay Capital Management LP Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Hudson Bay Capital Management LP raised its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 300.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,007 shares of the industrial products company's stock after purchasing an additional 21,007 shares during the quarter. Hudson Bay Capital Management LP's holdings in Parker-Hannifin were worth $17,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Parker-Hannifin Stock Up 1.0 %

Shares of NYSE:PH opened at $647.60 on Friday. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The firm has a market capitalization of $83.36 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a 50 day moving average price of $598.40 and a 200-day moving average price of $645.46.

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

Parker-Hannifin Increases Dividend

The company also recently disclosed 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. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PH. Truist Financial lowered their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $710.12.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now owns 2,083 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company's stock.

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.

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