Parker-Hannifin Co. (NYSE:PH) Shares Sold by Knowledge Leaders Capital LLC

Knowledge Leaders Capital LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.2% in the fourth quarter, HoldingsChannel reports. The fund owned 1,096 shares of the industrial products company’s stock after selling 98 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Parker-Hannifin were worth $505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Syon Capital LLC grew its holdings in shares of Parker-Hannifin by 7.4% during the 4th quarter. Syon Capital LLC now owns 1,057 shares of the industrial products company’s stock worth $487,000 after purchasing an additional 73 shares during the period. Two Point Capital Management Inc. grew its holdings in shares of Parker-Hannifin by 2.0% during the 4th quarter. Two Point Capital Management Inc. now owns 17,293 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 336 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Parker-Hannifin by 7.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,227 shares of the industrial products company’s stock worth $1,487,000 after purchasing an additional 228 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $548,000. Finally, Beaumont Asset Management L.L.C. grew its holdings in shares of Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $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. Corporate insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research reports. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. KeyCorp upped their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Evercore ISI upped their price target on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. The Goldman Sachs Group restated a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, Truist Financial started coverage on Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $4.26 on Friday, hitting $553.64. 548,739 shares of the stock traded hands, compared to its average volume of 492,829. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company has a market capitalization of $71.09 billion, a PE ratio of 27.40, a PEG ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a 1-year low of $312.36 and a 1-year high of $570.15. The company’s fifty day moving average is $543.27 and its 200 day moving average is $477.71.

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

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

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.