Parker-Hannifin Co. (NYSE:PH) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,156 shares of the industrial products company's stock after acquiring an additional 633 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Parker-Hannifin were worth $7,731,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $23,390,000. SG Americas Securities LLC raised its stake in Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC boosted its stake in Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after acquiring an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after buying an additional 25,605 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

PH stock traded up $9.11 during mid-day trading on Wednesday, reaching $623.03. 663,959 shares of the company's stock were exchanged, compared to its average volume of 713,676. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market cap of $80.20 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The stock's 50 day moving average is $599.04 and its 200 day moving average is $645.38. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share 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 analyst estimates of $4.99 billion. During the same period last year, the company posted $6.51 EPS. The business's revenue was down 2.2% on a year-over-year basis. On average, research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $1.80 dividend. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.16%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the business's stock in a transaction that occurred on 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. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on PH. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group lowered their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Truist Financial lowered their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $710.12.

Parker-Hannifin 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.