Hudson Bay Capital Management LP Trims Holdings in Parker-Hannifin Corporation $PH

Hudson Bay Capital Management LP decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 39.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,377 shares of the industrial products company’s stock after selling 4,817 shares during the period. Hudson Bay Capital Management LP’s holdings in Parker-Hannifin were worth $5,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PH. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $29,000. Ameriflex Group Inc. lifted its stake in 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. Morse Asset Management Inc boosted its holdings in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 28 shares in the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in Parker-Hannifin in the third quarter valued at $36,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In related news, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin 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 $949,940. The trade was a 36.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a report on Thursday, January 29th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Robert W. Baird set a $1,050.00 price target 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 report on Wednesday, February 4th. Finally, Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a research report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $893.04 on Friday. The company’s fifty day moving average price is $957.97 and its 200-day moving average price is $862.79. The stock has a market cap of $112.72 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (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%. During the same period last year, the business posted $6.53 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Parker-Hannifin 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.