Andra AP fonden Invests $7.43 Million in Parker-Hannifin Corporation $PH

Andra AP fonden purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,800 shares of the industrial products company’s stock, valued at approximately $7,430,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Parker-Hannifin by 0.9% during the second quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock valued at $7,770,646,000 after purchasing an additional 101,476 shares during the period. Procyon Advisors LLC grew its position in shares of Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Invesco Ltd. grew its holdings in Parker-Hannifin by 1.8% during the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock valued at $1,638,556,000 after buying an additional 41,221 shares in the last quarter. Ameriprise Financial Inc. grew its position in Parker-Hannifin by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after acquiring an additional 92,913 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Parker-Hannifin by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock valued at $1,449,496,000 after purchasing an additional 14,534 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BNP Paribas Exane assumed coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note 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. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $995.37.

Insider Activity

In other news, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. This trade represents a 16.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 over the last quarter. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 0.6%

Parker-Hannifin stock opened at $1,009.11 on Friday. The business’s 50-day simple moving average is $947.29 and its two-hundred day simple moving average is $844.59. 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 company has a market cap of $127.37 billion, a PE ratio of 36.80, a PEG ratio of 3.25 and a beta of 1.25. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its 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. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the firm earned $6.53 earnings per share. Parker-Hannifin’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Parker-Hannifin 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.