Varma Mutual Pension Insurance Co Purchases 4,200 Shares of Parker-Hannifin Corporation $PH

Varma Mutual Pension Insurance Co raised its position in Parker-Hannifin Corporation (NYSE:PH) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,037 shares of the industrial products company’s stock after purchasing an additional 4,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Parker-Hannifin were worth $22,014,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth $29,000. Interchange Capital Partners LLC bought a new stake in shares of Parker-Hannifin in the second quarter worth about $31,000. Valley Wealth Managers Inc. acquired a new stake in shares of Parker-Hannifin during the third quarter worth about $36,000. State of Wyoming bought a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $38,000. Finally, Princeton Global Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 56.1% during the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 23 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. iA Financial set a $1,032.00 target price on Parker-Hannifin in a report on Thursday, January 29th. Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 2,488 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction 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. The trade was a 15.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,825 shares of company stock worth $5,391,341 over the last quarter. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $996.34 on Thursday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,012.49. The company has a market cap of $125.76 billion, a P/E ratio of 36.34, a P/E/G ratio of 3.20 and a beta of 1.25. 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 stock’s 50-day simple moving average is $916.02 and its 200 day simple moving average is $820.99.

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

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

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.