Aster Capital Management DIFC Ltd Buys Shares of 1,569 Parker-Hannifin Corporation $PH

Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,569 shares of the industrial products company’s stock, valued at approximately $1,190,000.

A number of other large investors also recently modified their holdings of PH. Berkshire Asset Management LLC PA grew its position in Parker-Hannifin by 1.1% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after acquiring an additional 13 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake 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 purchasing an additional 13 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 14 shares during the last quarter. High Net Worth Advisory Group LLC increased its stake in shares of Parker-Hannifin by 0.3% in the third 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 holdings in 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 during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares in the company, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the transaction, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,551 shares of company stock worth $12,117,502 over the last three months. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research reports. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. 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 price objective on the stock. Citigroup increased their price objective on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. iA Financial set a $1,032.00 target price on Parker-Hannifin in a report on Thursday, January 29th. Finally, Argus reissued a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a research note on Monday, November 10th. Sixteen equities research analysts have rated the stock with a Buy rating and five 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 a consensus price target of $995.37.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $1,014.95 on Friday. The stock has a market capitalization of $128.11 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 3.26 and a beta of 1.25. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96. 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 50 day moving average price is $944.58 and its two-hundred day moving average price is $842.02.

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

Parker-Hannifin Dividend Announcement

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

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.