Choreo LLC Has $4.70 Million Holdings in Parker-Hannifin Corporation $PH

Choreo LLC grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,196 shares of the industrial products company’s stock after purchasing an additional 551 shares during the period. Choreo LLC’s holdings in Parker-Hannifin were worth $4,698,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PH. Berkshire Asset Management LLC PA grew its position in Parker-Hannifin by 1.1% during the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after buying an additional 13 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in Parker-Hannifin by 2.3% in the third quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 13 shares during the period. Fidelis Capital Partners LLC boosted its stake in Parker-Hannifin by 1.3% during the second quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after buying an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC increased its holdings in Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after buying an additional 14 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Parker-Hannifin by 0.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,280,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In related news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares in the company, valued at $949,940. The trade was a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,551 shares of company stock worth $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PH shares. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Argus reiterated a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a research report on Monday, November 10th. Barclays lifted their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Sixteen investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Stock Down 0.6%

NYSE:PH opened at $1,009.11 on Friday. The company has a market cap of $127.37 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 3.27 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 fifty day moving average price is $947.29 and its two-hundred day moving average price is $843.95. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. The business 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 firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.53 earnings per share. On average, analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

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.