Vanguard Group Inc. Sells 16,311 Shares of Parker-Hannifin Corporation $PH

Vanguard Group Inc. reduced its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,108,929 shares of the industrial products company’s stock after selling 16,311 shares during the period. Vanguard Group Inc. owned 8.78% of Parker-Hannifin worth $8,422,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkshire Asset Management LLC PA boosted its stake in Parker-Hannifin by 1.1% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after purchasing an additional 13 shares during the last quarter. Fidelis Capital Partners LLC boosted its holdings in Parker-Hannifin by 1.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after acquiring an additional 14 shares during the last quarter. High Net Worth Advisory Group LLC raised its holdings in shares of Parker-Hannifin by 0.3% in the third quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after purchasing an additional 14 shares during the last quarter. Meadow Creek Wealth Advisors LLC lifted its position in shares of Parker-Hannifin by 3.6% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in Parker-Hannifin by 0.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after purchasing an additional 15 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. This trade represents a 36.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,551 shares of company stock worth $12,117,502 in the last quarter. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PH shares. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Barclays raised their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Stifel Nicolaus increased their target price on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $1,001.30 on Tuesday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,012.49. The stock has a market capitalization of $126.38 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.23 and a beta of 1.25. The company’s 50-day moving average is $923.06 and its 200 day moving average is $827.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.53 EPS. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.