Ethic Inc. Buys 1,105 Shares of Parker-Hannifin Co. (NYSE:PH)

Ethic Inc. raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 10.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,647 shares of the industrial products company's stock after buying an additional 1,105 shares during the quarter. Ethic Inc.'s holdings in Parker-Hannifin were worth $7,408,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after buying an additional 111,406 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after acquiring an additional 99,261 shares during the last quarter. Invesco Ltd. boosted its holdings in Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock worth $1,591,810,000 after buying an additional 198,292 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Parker-Hannifin by 9.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after purchasing an additional 172,064 shares during the period. Finally, Norges Bank acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $1,106,132,000. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Citigroup reduced their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock 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 report on Wednesday, March 19th. Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Stifel Nicolaus boosted their price objective on Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $710.12.

Parker-Hannifin Stock Down 0.3%

Shares of PH stock traded down $1.99 during trading hours on Thursday, reaching $672.82. The company had a trading volume of 212,542 shares, compared to its average volume of 721,158. The company has a market cap of $85.97 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The business has a fifty day simple moving average of $600.70 and a 200-day simple moving average of $646.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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 return on equity of 27.34% and a net margin of 15.87%. The business 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 earned $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 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared 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 represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is 27.72%.

About Parker-Hannifin

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.