Banco Santander S.A. Has $6.54 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Banco Santander S.A. lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 19.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,934 shares of the industrial products company’s stock after acquiring an additional 2,071 shares during the period. Banco Santander S.A.’s holdings in Parker-Hannifin were worth $6,542,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PH. Sachetta LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. First United Bank & Trust acquired a new stake in Parker-Hannifin in the fourth quarter worth about $29,000. Harbor Investment Advisory LLC raised its holdings in Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Parker-Hannifin in the 4th quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the first quarter valued at about $31,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $3.21 during midday trading on Thursday, hitting $591.22. 410,000 shares of the company’s stock were exchanged, compared to its average volume of 659,680. The company has a market cap of $76.00 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 2.37 and a beta of 1.44. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $599.53. The business’s fifty day moving average price is $543.48 and its two-hundred day moving average price is $539.88.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.08 earnings per share. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.61 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s payout ratio is 30.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PH shares. Argus boosted their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Truist Financial reaffirmed a “buy” rating and set a $673.00 price target (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Barclays reduced their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company upped their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.14.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Company 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.