ProShare Advisors LLC Has $18.22 Million Stock Position in Parker-Hannifin Corporation $PH

ProShare Advisors LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,035 shares of the industrial products company’s stock after selling 586 shares during the period. ProShare Advisors LLC’s holdings in Parker-Hannifin were worth $18,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PH. Oppenheimer & Co. Inc. raised its stake in Parker-Hannifin by 1.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,305 shares of the industrial products company’s stock valued at $4,780,000 after purchasing an additional 69 shares during the period. Western Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 2.1% during the third quarter. Western Wealth Management LLC now owns 3,303 shares of the industrial products company’s stock valued at $2,504,000 after buying an additional 68 shares in the last quarter. REAP Financial Group LLC raised its position in Parker-Hannifin by 5.8% during the third quarter. REAP Financial Group LLC now owns 292 shares of the industrial products company’s stock valued at $221,000 after buying an additional 16 shares during the period. Lantz Financial LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth about $566,000. Finally, AdvisorShares Investments LLC boosted its position in Parker-Hannifin by 2,028.6% during the 3rd quarter. AdvisorShares Investments LLC now owns 745 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 710 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Citigroup increased their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, Barclays lifted their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin Stock Performance

PH opened at $989.98 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The company has a market cap of $124.96 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 3.15 and a beta of 1.25. The stock has a 50-day moving average of $913.47 and a 200-day moving average of $819.76. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $992.08.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $6.53 EPS. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio is 26.26%.

Insider Transactions at Parker-Hannifin

In related news, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the completion of the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at $11,739,907.20. This represents a 15.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the 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 transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,825 shares of company stock worth $5,391,341 over the last 90 days. Insiders own 0.32% of the company’s stock.

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.