Nordea Investment Management AB Decreases Stake in Parker-Hannifin Corporation $PH

Nordea Investment Management AB trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,470 shares of the industrial products company’s stock after selling 1,286 shares during the period. Nordea Investment Management AB’s holdings in Parker-Hannifin were worth $18,963,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Berkshire Asset Management LLC PA increased its position in shares of Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after acquiring an additional 13 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Parker-Hannifin by 2.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 13 shares in the last quarter. High Net Worth Advisory Group LLC lifted its position in shares of Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after acquiring an additional 14 shares in the last quarter. Asset Dedication LLC boosted its stake in Parker-Hannifin by 2.0% in the 3rd quarter. Asset Dedication LLC now owns 702 shares of the industrial products company’s stock worth $532,000 after purchasing an additional 14 shares during the period. Finally, Empowered Funds LLC grew its position in Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PH shares. JPMorgan Chase & Co. boosted their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley raised their target price 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. Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a report on Friday, January 30th. BNP Paribas Exane began coverage on 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. Finally, KeyCorp reissued an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Trading Up 1.9%

Shares of NYSE:PH opened at $923.62 on Wednesday. The firm has a fifty day moving average of $957.23 and a two-hundred day moving average of $866.61. 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 12-month low of $488.45 and a 12-month high of $1,034.96. The firm has a market capitalization of $116.58 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 2.92 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the prior year, the firm earned $6.53 EPS. Parker-Hannifin’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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.