Calamos Advisors LLC Sells 8,457 Shares of Parker-Hannifin Co. (NYSE:PH)

Calamos Advisors LLC lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 52,285 shares of the industrial products company’s stock after selling 8,457 shares during the quarter. Calamos Advisors LLC’s holdings in Parker-Hannifin were worth $24,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PH. OFI Invest Asset Management acquired a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its position in shares of Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares during the period. First Capital Advisors Group LLC. acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. grew its position in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares during the period. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Evercore ISI raised their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Truist Financial assumed coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Barclays lifted their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, KeyCorp lifted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

PH traded up $3.17 during trading hours on Friday, hitting $541.26. The stock had a trading volume of 61,544 shares, compared to its average volume of 581,828. The company’s fifty day simple moving average is $540.09 and its 200 day simple moving average is $471.11. Parker-Hannifin Co. has a 1 year low of $309.89 and a 1 year high of $570.15. The stock has a market cap of $69.50 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.89. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.76 EPS. Equities analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s payout ratio is 29.31%.

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.