Parker-Hannifin Co. (NYSE:PH) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC lowered its position in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 80.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,045 shares of the industrial products company’s stock after selling 16,234 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Parker-Hannifin were worth $1,864,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PH. FMR LLC boosted its holdings in shares of Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Parker-Hannifin by 1.8% in the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after purchasing an additional 52,739 shares during the last quarter. Norges Bank acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $665,188,000. Northern Trust Corp boosted its holdings in shares of Parker-Hannifin by 2.9% in the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock valued at $510,320,000 after purchasing an additional 36,744 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its holdings in shares of Parker-Hannifin by 42.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after purchasing an additional 336,370 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $525.91 on Tuesday. The firm has a market cap of $67.60 billion, a P/E ratio of 24.78, a P/E/G ratio of 2.07 and a beta of 1.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 1-year low of $353.63 and a 1-year high of $570.15. The firm has a fifty day moving average of $542.44 and a two-hundred day moving average of $508.78.

Parker-Hannifin (NYSE:PHGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business earned $5.93 EPS. As a group, research analysts anticipate that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued 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 yield of 1.24%. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PH. Truist Financial reissued a “buy” rating and issued a $611.00 target price on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Evercore ISI raised their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, KeyCorp raised their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $566.33.

Get Our Latest Stock Analysis on Parker-Hannifin

Insiders Place Their Bets

In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

About Parker-Hannifin

(Free Report)

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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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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