Stevens Capital Management LP Trims Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Stevens Capital Management LP lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 76.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 890 shares of the industrial products company’s stock after selling 2,877 shares during the period. Stevens Capital Management LP’s holdings in Parker-Hannifin were worth $410,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sapient Capital LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $1,392,000. abrdn plc lifted its position in Parker-Hannifin by 57.8% during the fourth quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock valued at $25,247,000 after purchasing an additional 20,073 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at approximately $3,305,000. 17 Capital Partners LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at approximately $2,271,000. Finally, HMS Capital Management LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at approximately $1,225,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.7 %

NYSE:PH traded up $4.10 during midday trading on Friday, reaching $553.48. 548,739 shares of the stock traded hands, compared to its average volume of 584,855. The company has a fifty day moving average of $542.60 and a 200 day moving average of $476.62. Parker-Hannifin Co. has a 12 month low of $312.36 and a 12 month high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The stock has a market capitalization of $71.07 billion, a P/E ratio of 27.20, a PEG ratio of 2.00 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $4.76 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is presently 29.31%.

Wall Street Analyst Weigh In

PH has been the subject of several research analyst reports. Barclays lifted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial initiated coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by company insiders.

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.