South Dakota Investment Council Sells 600 Shares of Parker-Hannifin Co. (NYSE:PH)

South Dakota Investment Council lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,150 shares of the industrial products company’s stock after selling 600 shares during the quarter. South Dakota Investment Council’s holdings in Parker-Hannifin were worth $3,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PH. OFI Invest Asset Management bought a new position in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Parker-Hannifin during the 4th quarter worth $26,000. Baystate Wealth Management LLC grew its stake in shares of Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 49 shares during the period. Oakworth Capital Inc. lifted its holdings in Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth about $42,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $546.35 on Thursday. The business has a 50 day moving average of $542.05 and a 200 day moving average of $476.11. The company has a market capitalization of $70.16 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.76 EPS. On average, sell-side analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 in the last quarter. 1.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PH. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Truist Financial began coverage on Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective on the stock. Evercore ISI increased their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus increased their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.