Cinctive Capital Management LP Takes $5.52 Million Position in Parker-Hannifin Corporation $PH

Cinctive Capital Management LP acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,285 shares of the industrial products company’s stock, valued at approximately $5,523,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Texas Capital Bancshares Inc TX purchased a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. Chilton Capital Management LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth $29,000. Ameriflex Group Inc. grew its holdings in shares of Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 33 shares during the period. Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin in the third quarter worth $36,000. Finally, Johnson Financial Group Inc. increased its position in Parker-Hannifin by 84.6% during the third quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.3%

Shares of PH opened at $890.28 on Monday. The firm has a market cap of $112.37 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The company has a 50 day simple moving average of $959.64 and a two-hundred day simple moving average of $859.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the firm earned $6.53 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a $1.80 dividend. The ex-dividend date was Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is presently 26.26%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Truist Financial set a $1,139.00 target price on Parker-Hannifin in a research report on Friday, January 30th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research report on Thursday, January 29th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Citigroup raised their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president owned 1,000 shares in the company, valued at $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,063 shares of company stock worth $9,891,214. Insiders own 0.32% of the company’s stock.

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.