Parker-Hannifin Co. (NYSE:PH) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,326,311 shares of the industrial products company's stock after selling 123,601 shares during the period. Nuveen Asset Management LLC owned approximately 1.03% of Parker-Hannifin worth $843,574,000 as of its most recent SEC filing.

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

Insider Activity at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $8.31 on Friday, hitting $680.95. The company's stock had a trading volume of 458,022 shares, compared to its average volume of 719,563. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week 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 firm has a fifty day moving average price of $603.37 and a 200-day moving average price of $647.09. The company has a market capitalization of $87.01 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results 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 net margin of 15.87% and a return on equity of 27.34%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company posted $6.51 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a $1.80 dividend. This is an increase 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 yield of 1.06%. Parker-Hannifin's payout ratio is presently 27.72%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PH shares. KeyCorp lifted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Evercore ISI boosted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Truist Financial decreased their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.