Parker-Hannifin Co. (NYSE:PH) Stock Holdings Lifted by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. raised its position in Parker-Hannifin Co. (NYSE:PH) by 71.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,153 shares of the industrial products company’s stock after purchasing an additional 1,317 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Parker-Hannifin were worth $1,992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. Massmutual Trust Co. FSB ADV boosted its stake in shares of Parker-Hannifin by 15.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 775 shares of the industrial products company’s stock worth $392,000 after acquiring an additional 104 shares in the last quarter. HBW Advisory Services LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $209,000. Mather Group LLC. boosted its stake in shares of Parker-Hannifin by 1.9% during the 2nd quarter. Mather Group LLC. now owns 2,594 shares of the industrial products company’s stock worth $1,442,000 after acquiring an additional 49 shares in the last quarter. New England Research & Management Inc. bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $395,000. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of Parker-Hannifin by 70.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 9,491 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 3,921 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Evercore ISI boosted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. TD Cowen boosted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. UBS Group assumed coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective for the company. Finally, Truist Financial boosted their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $691.40.

Insider Transactions at Parker-Hannifin

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

Parker-Hannifin Stock Up 0.4 %

Shares of PH opened at $702.90 on Monday. The firm has a market capitalization of $90.48 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 2.84 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The business’s fifty day moving average price is $656.37 and its two-hundred day moving average price is $585.92. Parker-Hannifin Co. has a 52 week low of $426.78 and a 52 week high of $712.42.

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

Parker-Hannifin Dividend Announcement

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

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.