Dana Investment Advisors Inc. Decreases Stock Holdings in Parker-Hannifin Corporation $PH

Dana Investment Advisors Inc. lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 15.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,366 shares of the industrial products company’s stock after selling 4,358 shares during the period. Dana Investment Advisors Inc.’s holdings in Parker-Hannifin were worth $17,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new stake in shares of Parker-Hannifin during the third quarter worth $29,000. Valley Wealth Managers Inc. acquired a new position in Parker-Hannifin during the third quarter worth about $36,000. State of Wyoming purchased a new stake in Parker-Hannifin during the 2nd quarter valued at about $38,000. Sagard Holdings Management Inc. acquired a new stake in Parker-Hannifin in the 2nd quarter valued at about $46,000. Finally, Financial Consulate Inc. purchased a new position in Parker-Hannifin in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.4%

Shares of NYSE PH opened at $1,008.15 on Tuesday. The stock has a market cap of $127.25 billion, a P/E ratio of 36.77, a PEG ratio of 3.29 and a beta of 1.25. The business’s fifty day simple moving average is $935.69 and its 200-day simple moving average is $837.54. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,024.58. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. KeyCorp reissued an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Barclays boosted their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective for the company. Morgan Stanley reaffirmed a “positive” rating on shares of Parker-Hannifin in a research note on Wednesday, January 14th. Finally, Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $990.47.

Insider Activity

In other news, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. This trade represents a 36.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,551 shares of company stock worth $12,117,502 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

About Parker-Hannifin

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.