ProShare Advisors LLC increased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,403 shares of the industrial products company's stock after purchasing an additional 2,706 shares during the period. ProShare Advisors LLC's holdings in Parker-Hannifin were worth $13,613,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after buying an additional 15 shares during the period. FFT Wealth Management LLC increased its stake in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after buying an additional 15 shares during the period. GenTrust LLC increased its stake in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after buying an additional 15 shares during the period. First Manhattan CO. LLC. increased its stake in Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after buying an additional 15 shares during the period. Finally, Grove Bank & Trust increased its stake in Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after buying an additional 16 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PH has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI upped their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday. Argus set a $680.00 price target on shares of Parker-Hannifin in a research note on Tuesday, May 6th. KeyCorp upped their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Barclays lowered their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $718.44.
Read Our Latest Stock Analysis on PH
Insider Buying and Selling at Parker-Hannifin
In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.
Parker-Hannifin Stock Up 0.1%
Shares of PH stock traded up $0.91 during mid-day trading on Tuesday, reaching $680.19. 856,657 shares of the company were exchanged, compared to its average volume of 720,067. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. 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 company has a market capitalization of $86.91 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.85 and a beta of 1.36. The business's 50 day simple moving average is $604.68 and its 200 day simple moving average is $647.65.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the business posted $6.51 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. Research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.
Parker-Hannifin Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.06%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.
About Parker-Hannifin
(
Free Report)
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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