Parker-Hannifin Co. (NYSE:PH) Shares Sold by Natixis Advisors L.P.

Natixis Advisors L.P. decreased its position in Parker-Hannifin Co. (NYSE:PH) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,976 shares of the industrial products company’s stock after selling 328 shares during the quarter. Natixis Advisors L.P. owned 0.08% of Parker-Hannifin worth $44,677,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PH. FMR LLC lifted its holdings in shares of Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. Invesco Ltd. increased its position in shares of Parker-Hannifin by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after purchasing an additional 52,739 shares during the period. Northern Trust Corp increased its position in shares of Parker-Hannifin by 2.9% during the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock valued at $510,320,000 after purchasing an additional 36,744 shares during the period. Alphinity Investment Management Pty Ltd grew its holdings in shares of Parker-Hannifin by 42.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after buying an additional 336,370 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in shares of Parker-Hannifin by 7.4% during the third quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock valued at $244,136,000 after buying an additional 43,059 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $5.50 during trading hours on Friday, hitting $536.18. 970,079 shares of the company’s stock were exchanged, compared to its average volume of 601,506. Parker-Hannifin Co. has a 1-year low of $319.14 and a 1-year high of $570.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.49. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.91 and a beta of 1.51. The company’s 50-day moving average price is $544.86 and its 200-day moving average price is $481.66.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the previous year, the firm earned $5.93 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Parker-Hannifin Co. will post 24.69 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.22%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 27.90%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PH. KeyCorp lifted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Barclays lowered their price target on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a report on Friday. Evercore ISI lifted their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Truist Financial lifted their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $523.94.

About Parker-Hannifin

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.