TIAA Trust National Association Sells 21,372 Shares of Parker-Hannifin Co. (NYSE:PH)

TIAA Trust National Association trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 80.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,179 shares of the industrial products company’s stock after selling 21,372 shares during the quarter. TIAA Trust National Association’s holdings in Parker-Hannifin were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 17 Capital Partners LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $2,271,000. HMS Capital Management LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $1,225,000. Patton Fund Management Inc. grew its stake in Parker-Hannifin by 146.3% during the 4th quarter. Patton Fund Management Inc. now owns 13,213 shares of the industrial products company’s stock valued at $6,087,000 after purchasing an additional 7,849 shares during the last quarter. Cooper Financial Group grew its stake in Parker-Hannifin by 55.5% during the 4th quarter. Cooper Financial Group now owns 936 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 334 shares during the last quarter. Finally, Comerica Bank grew its stake in Parker-Hannifin by 182.9% during the 3rd quarter. Comerica Bank now owns 73,748 shares of the industrial products company’s stock valued at $28,726,000 after purchasing an additional 47,681 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. Truist Financial initiated coverage on Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 price target on the stock. Stifel Nicolaus upped their target price on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Barclays upped their target price on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $511.31.

Check Out Our Latest Analysis on Parker-Hannifin

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was 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 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 SEC, which is available through the SEC website. In related news, 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 directly owns 7,063 shares in the company, valued at $3,552,265.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

NYSE PH opened at $559.06 on Thursday. The stock has a market capitalization of $71.79 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.02 and a beta of 1.52. Parker-Hannifin Co. has a twelve month low of $308.26 and a twelve month high of $561.13. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average of $525.12 and a 200 day moving average of $458.44.

Parker-Hannifin (NYSE:PHGet Free Report) last announced its earnings results 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 return on equity of 29.91% and a net margin of 13.28%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the firm earned $4.76 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Co. will post 24.2 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.06%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Parker-Hannifin Profile

(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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