National Pension Service Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

National Pension Service boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 293,264 shares of the industrial products company’s stock after buying an additional 8,358 shares during the quarter. National Pension Service owned 0.23% of Parker-Hannifin worth $135,107,000 as of its most recent SEC filing.

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

Parker-Hannifin Stock Performance

NYSE:PH traded up $4.49 during mid-day trading on Wednesday, reaching $554.67. The stock had a trading volume of 315,906 shares, compared to its average volume of 602,323. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The business has a 50 day simple moving average of $545.73 and a 200 day simple moving average of $486.41. Parker-Hannifin Co. has a twelve month low of $319.14 and a twelve month high of $570.15. The firm has a market capitalization of $71.30 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.94 and a beta of 1.51.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. During the same period in the previous year, the business earned $5.93 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Co. will post 24.62 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed 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 boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PH. Truist Financial raised their target price on Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Barclays lowered their target price on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Wells Fargo & Company cut their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday. KeyCorp raised their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Evercore ISI boosted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $539.56.

Insiders Place Their Bets

In related news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Parker-Hannifin Profile

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.