Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 35.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,873 shares of the industrial products company’s stock after purchasing an additional 7,581 shares during the period. Vontobel Holding Ltd.’s holdings in Parker-Hannifin were worth $13,302,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PH. Cetera Advisor Networks LLC raised its holdings in Parker-Hannifin by 8.1% in the first quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock valued at $425,000 after acquiring an additional 112 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Parker-Hannifin by 69.8% in the first quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 1,591 shares in the last quarter. Prudential PLC acquired a new stake in Parker-Hannifin in the first quarter valued at $687,000. Moors & Cabot Inc. raised its holdings in Parker-Hannifin by 270.8% in the first quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 1,985 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Parker-Hannifin by 2.0% in the first quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after acquiring an additional 190,889 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 over the last three months. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE:PH opened at $543.37 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15. The firm has a market cap of $69.77 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. The company has a 50-day moving average of $538.46 and a 200-day moving average of $469.06.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm earned $4.76 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts forecast that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays increased their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Truist Financial assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. Finally, TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Profile

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.