Capital International Sarl Has $2.50 Million Position in Parker-Hannifin Corporation $PH

Capital International Sarl reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 69.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,293 shares of the industrial products company’s stock after selling 7,560 shares during the quarter. Capital International Sarl’s holdings in Parker-Hannifin were worth $2,497,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Chilton Capital Management LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $29,000. Ameriflex Group Inc. grew its holdings in shares of Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $36,000. State of Wyoming acquired a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $38,000. Finally, Sagard Holdings Management Inc. bought a new stake in shares of Parker-Hannifin during the second quarter worth $46,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.9%

NYSE PH opened at $949.78 on Wednesday. The business has a fifty day moving average price of $958.04 and a two-hundred day moving average price of $856.23. The stock has a market capitalization of $119.88 billion, a PE ratio of 34.64, a PEG ratio of 3.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $6.53 earnings per share. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently weighed in on PH. KeyCorp reissued an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their target price on 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. Citigroup increased their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This trade represents a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 12,551 shares of company stock worth $12,117,502. Corporate 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.