Parker-Hannifin Corporation $PH Shares Sold by MQS Management LLC

MQS Management LLC lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 64.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 387 shares of the industrial products company’s stock after selling 693 shares during the quarter. MQS Management LLC’s holdings in Parker-Hannifin were worth $293,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 0.9% during the second quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after purchasing an additional 101,476 shares in the last quarter. Procyon Advisors LLC lifted its stake in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Invesco Ltd. boosted its holdings in Parker-Hannifin by 1.8% in the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after buying an additional 41,221 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Parker-Hannifin by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after buying an additional 92,913 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Parker-Hannifin by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock valued at $1,449,496,000 after acquiring an additional 14,534 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $981.92 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock has a market cap of $123.94 billion, a P/E ratio of 35.81, a PEG ratio of 3.21 and a beta of 1.25. The company has a 50-day moving average price of $918.20 and a 200 day moving average price of $822.11. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,012.49.

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

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Morgan Stanley reiterated a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $990.47.

Insider Activity at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction that occurred 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 sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,825 shares of company stock valued at $5,391,341 in the last ninety days. Insiders own 0.32% of the company’s stock.

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.