Atom Investors LP Has $9.36 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Atom Investors LP increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 7.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,808 shares of the industrial products company’s stock after buying an additional 1,045 shares during the period. Parker-Hannifin accounts for 1.0% of Atom Investors LP’s holdings, making the stock its 10th biggest holding. Atom Investors LP’s holdings in Parker-Hannifin were worth $9,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PH. FMR LLC increased its stake in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares in the last quarter. Legal & General Group Plc increased its stake in Parker-Hannifin by 1.3% in the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares in the last quarter. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after purchasing an additional 76,629 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 over the last three months. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Up 0.4 %

Parker-Hannifin stock opened at $702.90 on Monday. Parker-Hannifin Co. has a fifty-two week low of $426.78 and a fifty-two week high of $712.42. The stock has a market cap of $90.48 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. The firm’s 50-day simple moving average is $656.37 and its 200 day simple moving average is $585.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the company earned $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Analyst Upgrades and Downgrades

PH has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Truist Financial boosted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $691.40.

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.