Natixis Advisors LLC Reduces Holdings in Parker-Hannifin Corporation $PH

Natixis Advisors LLC decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,289 shares of the industrial products company’s stock after selling 5,674 shares during the period. Natixis Advisors LLC owned 0.15% of Parker-Hannifin worth $141,993,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PH. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in shares of Parker-Hannifin by 135.7% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,300 shares of the industrial products company’s stock valued at $2,502,000 after purchasing an additional 1,900 shares during the period. Ameriflex Group Inc. increased its holdings in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares in the last quarter. Angeles Wealth Management LLC purchased a new position in Parker-Hannifin in the third quarter valued at about $220,000. Blair William & Co. IL raised its holdings in Parker-Hannifin by 23.2% during the third quarter. Blair William & Co. IL now owns 32,583 shares of the industrial products company’s stock worth $24,703,000 after purchasing an additional 6,144 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Parker-Hannifin by 82.2% during the 3rd quarter. First Trust Advisors LP now owns 37,242 shares of the industrial products company’s stock worth $28,235,000 after buying an additional 16,802 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Susquehanna reiterated a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a report on Wednesday, November 12th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, Truist Financial set a $1,139.00 target price 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Trading Down 4.4%

NYSE:PH opened at $923.01 on Friday. The company has a market cap of $116.50 billion, a PE ratio of 33.66, a P/E/G ratio of 2.97 and a beta of 1.23. The business’s 50 day moving average is $956.00 and its two-hundred day moving average is $852.67. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week 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 for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the business earned $6.53 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Insider Activity at Parker-Hannifin

In other news, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction on 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 sale, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is owned by insiders.

About Parker-Hannifin

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.