River Global Investors LLP Sells 1,632 Shares of Parker-Hannifin Co. (NYSE:PH)

River Global Investors LLP reduced its position in Parker-Hannifin Co. (NYSE:PH) by 22.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,770 shares of the industrial products company’s stock after selling 1,632 shares during the period. River Global Investors LLP’s holdings in Parker-Hannifin were worth $2,659,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sapient Capital LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $1,392,000. abrdn plc raised its position in shares of Parker-Hannifin by 57.8% in the fourth quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after buying an additional 20,073 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at $3,305,000. 17 Capital Partners LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $2,271,000. Finally, HMS Capital Management LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $1,225,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 1.0 %

PH traded up $5.50 during trading on Friday, hitting $536.18. 970,079 shares of the stock traded hands, compared to its average volume of 601,506. The firm has a market capitalization of $68.85 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.91 and a beta of 1.51. The firm has a 50-day moving average of $544.86 and a 200 day moving average of $481.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.49. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the business earned $5.93 EPS. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.69 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm 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 $1.63 dividend. 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. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.90%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PH. Truist Financial boosted their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a report on Friday. Barclays lowered their price objective on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research report on Friday. Evercore ISI increased their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, 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.