Parker-Hannifin Corporation $PH Shares Sold by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. lowered its holdings in Parker-Hannifin Corporation (NYSE:PH) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,870 shares of the industrial products company’s stock after selling 1,763 shares during the quarter. Parker-Hannifin accounts for 1.3% of Amica Mutual Insurance Co.’s holdings, making the stock its 11th biggest position. Amica Mutual Insurance Co.’s holdings in Parker-Hannifin were worth $14,306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. Berkshire Asset Management LLC PA raised its stake 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 purchasing an additional 13 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of Parker-Hannifin by 1.3% during the 2nd 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 during the last quarter. High Net Worth Advisory Group LLC raised its position in shares of Parker-Hannifin by 0.3% during 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. Meadow Creek Wealth Advisors LLC lifted its holdings in Parker-Hannifin by 3.6% in the second quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 15 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew 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 acquiring an additional 15 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PH. Susquehanna reissued a “positive” rating and set a $1,000.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, November 12th. Argus restated a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research report on Monday, November 10th. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,001.30 on Monday. 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 fifty-two week low of $488.45 and a fifty-two week high of $1,012.49. The stock’s 50-day moving average is $920.62 and its two-hundred day moving average is $825.21. The firm has a market cap of $126.38 billion, a P/E ratio of 36.52, a PEG ratio of 3.23 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted 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 period in the prior year, the business posted $6.53 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company 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 $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Activity

In other news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,551 shares of company stock worth $12,117,502. 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.