Capital World Investors Purchases 169,073 Shares of Parker-Hannifin Corporation $PH

Capital World Investors grew its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,584,141 shares of the industrial products company’s stock after acquiring an additional 169,073 shares during the quarter. Capital World Investors’ holdings in Parker-Hannifin were worth $1,959,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of PH. Chilton Capital Management LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at about $29,000. Ameriflex Group Inc. raised its position in Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Parker-Hannifin during the 3rd quarter valued at $36,000. State of Wyoming purchased a new position in Parker-Hannifin during the 2nd quarter worth $38,000. Finally, Financial Consulate Inc. purchased a new stake in shares of Parker-Hannifin in the third quarter valued at about $47,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction dated 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 transaction, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,551 shares of company stock valued at $12,117,502 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Trading Up 0.8%

Shares of Parker-Hannifin stock opened at $931.38 on Tuesday. The stock has a market capitalization of $117.56 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.97 and a beta of 1.23. 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 simple moving average is $956.81 and its 200 day simple moving average is $854.84.

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

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on PH. Argus reiterated a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. 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 note on Friday, January 30th. Truist Financial set a $1,139.00 price target on Parker-Hannifin in a research report on Friday, January 30th. KeyCorp restated an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, Jefferies Financial Group lifted their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Company 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.