BI Asset Management Fondsmaeglerselskab A S Trims Stake in Parker-Hannifin Co. (NYSE:PH)

BI Asset Management Fondsmaeglerselskab A S cut its stake in Parker-Hannifin Co. (NYSE:PHFree Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,034 shares of the industrial products company’s stock after selling 540 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Parker-Hannifin were worth $2,319,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in Parker-Hannifin in the fourth quarter worth $26,000. First United Bank & Trust bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $29,000. Private Wealth Management Group LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at about $33,000. Cherry Tree Wealth Management LLC boosted its stake in Parker-Hannifin by 44.6% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 81 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 25 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth about $42,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Truist Financial reissued a “buy” rating and issued a $611.00 target price on shares of Parker-Hannifin in a report on Wednesday, May 15th. Evercore ISI raised their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Mizuho upped their price target on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $560.20.

Read Our Latest Analysis on Parker-Hannifin

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $548.03 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15. The firm has a market capitalization of $70.44 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.88 and a beta of 1.51. The firm has a 50 day moving average of $548.76 and a 200 day moving average of $497.72.

Parker-Hannifin (NYSE:PHGet Free Report) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.93 earnings per share. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.82 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Activity

In other news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

About Parker-Hannifin

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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