AustralianSuper Pty Ltd Boosts Stock Holdings in Parker-Hannifin Corporation $PH

AustralianSuper Pty Ltd grew its position in Parker-Hannifin Corporation (NYSE:PH) by 60.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,796 shares of the industrial products company’s stock after purchasing an additional 3,317 shares during the period. AustralianSuper Pty Ltd’s holdings in Parker-Hannifin were worth $6,669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkshire Asset Management LLC PA increased its stake in Parker-Hannifin by 1.1% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after buying an additional 13 shares during the last quarter. Bridgewater Advisors Inc. increased its position in shares of Parker-Hannifin by 2.3% during the third quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 13 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings 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 acquiring an additional 14 shares during the period. High Net Worth Advisory Group LLC lifted its holdings in Parker-Hannifin by 0.3% during the third quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after acquiring an additional 14 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in Parker-Hannifin by 0.8% in the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after purchasing an additional 15 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. This represents a 36.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,551 shares of company stock worth $12,117,502 in the last ninety days. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Trading Down 2.3%

NYSE:PH opened at $988.23 on Wednesday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The stock’s fifty day moving average price is $951.80 and its two-hundred day moving average price is $848.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company has a market cap of $124.73 billion, a P/E ratio of 36.04, a P/E/G ratio of 3.26 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (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 company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the company posted $6.53 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on PH shares. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Jefferies Financial Group increased their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $995.37.

About Parker-Hannifin

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.