Holocene Advisors LP Has $103.86 Million Stock Holdings in Parker-Hannifin Corporation $PH

Holocene Advisors LP trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 59.0% in the third quarter, HoldingsChannel reports. The firm owned 136,988 shares of the industrial products company’s stock after selling 196,862 shares during the quarter. Holocene Advisors LP’s holdings in Parker-Hannifin were worth $103,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PH. Procyon Advisors LLC lifted its stake in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Norges Bank bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $1,352,509,000. Canada Pension Plan Investment Board grew its stake in Parker-Hannifin by 115.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock valued at $256,970,000 after buying an additional 197,317 shares during the last quarter. Capital World Investors raised its holdings in Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after acquiring an additional 169,073 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Parker-Hannifin by 9.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 1.3%

Shares of PH opened at $890.28 on Monday. 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. The firm’s 50 day moving average is $959.64 and its 200-day moving average is $859.42. The stock has a market capitalization of $112.37 billion, a PE ratio of 32.47, a P/E/G ratio of 2.87 and a beta of 1.23.

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, beating the consensus estimate of $7.11 by $0.54. The business had revenue of $5.17 billion during 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 revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $6.53 earnings per share. Equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Finally, Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a research report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $995.37.

Insider Activity at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction 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 trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,063 shares of company stock worth $9,891,214 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

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.