Capital World Investors Buys 169,073 Shares of Parker-Hannifin Corporation $PH

Capital World Investors grew its position in Parker-Hannifin Corporation (NYSE:PH) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,584,141 shares of the industrial products company’s stock after acquiring an additional 169,073 shares during the period. Capital World Investors owned about 2.04% of Parker-Hannifin worth $1,959,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Procyon Advisors LLC boosted its holdings in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the period. Norges Bank bought a new position in Parker-Hannifin during the second quarter worth about $1,352,509,000. Canada Pension Plan Investment Board boosted its holdings in Parker-Hannifin by 115.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock valued at $256,970,000 after purchasing an additional 197,317 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Parker-Hannifin by 9.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after purchasing an additional 136,359 shares during the period. Finally, Lazard Freres Gestion S.A.S. acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $103,284,000. 82.44% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 0.8%

NYSE PH opened at $931.38 on Tuesday. The company has a market cap of $117.56 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.97 and a beta of 1.23. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $956.81 and its 200 day moving average is $854.84.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates 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 for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $6.53 earnings per share. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Analyst Ratings Changes

Several brokerages have weighed in on PH. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a report on Friday, January 30th. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $995.37.

Parker-Hannifin Company Profile

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.