Fifth Third Bancorp Sells 82 Shares of Parker-Hannifin Co. (NYSE:PH)

Fifth Third Bancorp cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,811 shares of the industrial products company’s stock after selling 82 shares during the quarter. Fifth Third Bancorp owned 0.12% of Parker-Hannifin worth $95,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Evergreen Capital Management LLC increased its position in shares of Parker-Hannifin by 3.3% during the second quarter. Evergreen Capital Management LLC now owns 692 shares of the industrial products company’s stock valued at $350,000 after purchasing an additional 22 shares during the period. Marshall Wace LLP bought a new stake in Parker-Hannifin in the 2nd quarter valued at $23,600,000. AQR Capital Management LLC raised its stake in shares of Parker-Hannifin by 52.2% in the 2nd quarter. AQR Capital Management LLC now owns 78,768 shares of the industrial products company’s stock valued at $39,841,000 after buying an additional 27,020 shares in the last quarter. Delta Investment Management LLC lifted its holdings in shares of Parker-Hannifin by 4.4% during the 2nd quarter. Delta Investment Management LLC now owns 523 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 22 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $384,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PH shares. Wells Fargo & Company dropped their price target on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. KeyCorp raised their target price on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Barclays upped their price target on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Truist Financial upped their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $722.81.

Parker-Hannifin Price Performance

Shares of PH stock opened at $679.25 on Friday. The firm’s 50 day moving average price is $668.77 and its two-hundred day moving average price is $623.13. 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 Co. has a 52-week low of $463.16 and a 52-week high of $712.42. The stock has a market cap of $87.43 billion, a PE ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company earned $5.96 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,077 shares of company stock valued at $12,303,829. Corporate insiders own 0.39% of the company’s stock.

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.