Union Bancaire Privee UBP SA bought a new position in Parker-Hannifin Co. (NYSE:PH – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 53,283 shares of the industrial products company’s stock, valued at approximately $32,781,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. West Branch Capital LLC bought a new stake in Parker-Hannifin in the 3rd quarter worth about $25,000. Bangor Savings Bank grew its stake in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin during the third quarter valued at approximately $39,000. Institutional investors own 82.44% of the company’s stock.
Analyst Upgrades and Downgrades
PH has been the topic of several analyst reports. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Finally, Truist Financial increased their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $722.81.
Insider Buying and Selling
In other news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 over the last three months. 0.39% of the stock is owned by insiders.
Parker-Hannifin Trading Down 0.1 %
PH stock opened at $679.25 on Monday. The firm has a market cap of $87.43 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. The firm has a fifty day moving average price of $668.38 and a 200 day moving average price of $625.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $712.42.
Parker-Hannifin (NYSE:PH – Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.96 EPS. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s payout ratio is presently 29.45%.
Parker-Hannifin Company 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.
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