Sapient Capital LLC Acquires Shares of 3,021 Parker-Hannifin Co. (NYSE:PH)

Sapient Capital LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,021 shares of the industrial products company's stock, valued at approximately $1,392,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $519,286,000. Alphinity Investment Management Pty Ltd bought a new position in Parker-Hannifin during the third quarter valued at approximately $310,208,000. FMR LLC boosted its stake in Parker-Hannifin by 9.6% during the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company's stock valued at $1,437,096,000 after buying an additional 324,063 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Parker-Hannifin by 61.4% during the second quarter. Goldman Sachs Group Inc. now owns 676,123 shares of the industrial products company's stock valued at $166,360,000 after buying an additional 257,251 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Parker-Hannifin by 65,634.7% during the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company's stock valued at $101,149,000 after buying an additional 219,220 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 1.0 %

Shares of NYSE:PH traded down $5.62 on Friday, reaching $550.17. The company had a trading volume of 462,880 shares, compared to its average volume of 590,932. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15. The firm's 50 day simple moving average is $536.97 and its 200-day simple moving average is $465.78. The firm has a market capitalization of $70.65 billion, a PE ratio of 27.24, a PEG ratio of 2.04 and a beta of 1.52. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.76 EPS. As a group, analysts expect that Parker-Hannifin Co. will post 24.25 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Parker-Hannifin's dividend payout ratio is currently 29.31%.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company's stock, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company's stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research reports. Evercore ISI increased their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an "outperform" rating in a research note on Tuesday, February 20th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $450.00 to $510.00 and gave the company an "overweight" rating in a research note on Tuesday, December 19th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Truist Financial began coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a "buy" rating and a $602.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $515.38.

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.