Martingale Asset Management L P Sells 3,039 Shares of Parker-Hannifin Corporation $PH

Martingale Asset Management L P trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,211 shares of the industrial products company’s stock after selling 3,039 shares during the quarter. Martingale Asset Management L P’s holdings in Parker-Hannifin were worth $15,323,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC lifted its stake in shares of Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 32 shares during the period. Empowered Funds LLC raised its stake in Parker-Hannifin by 0.5% during the first 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 during the period. Acadian Asset Management LLC increased its position in Parker-Hannifin by 26.2% in the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after buying an additional 166 shares during the period. Finally, Sivia Capital Partners LLC raised its holdings in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The sale 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 business’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 transaction of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 10,063 shares of company stock valued at $9,891,214. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $901.93 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The business’s 50-day moving average is $959.70 and its two-hundred day moving average is $857.13. The company has a market capitalization of $113.84 billion, a P/E ratio of 32.89, a P/E/G ratio of 3.03 and a beta of 1.23. 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 issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the firm earned $6.53 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given 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 was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a report on Friday, January 30th. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $995.37.

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.