UniSuper Management Pty Ltd Purchases 2,289 Shares of Parker-Hannifin Co. (NYSE:PH)

UniSuper Management Pty Ltd increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 198.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,441 shares of the industrial products company’s stock after buying an additional 2,289 shares during the period. UniSuper Management Pty Ltd’s holdings in Parker-Hannifin were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Parker-Hannifin by 10.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 426 shares of the industrial products company’s stock worth $196,000 after buying an additional 41 shares in the last quarter. Everhart Financial Group Inc. increased its stake in Parker-Hannifin by 6.6% in the 4th quarter. Everhart Financial Group Inc. now owns 569 shares of the industrial products company’s stock valued at $262,000 after buying an additional 35 shares during the last quarter. Mutual Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $206,000. Cooper Financial Group grew its position in shares of Parker-Hannifin by 55.5% during the 4th quarter. Cooper Financial Group now owns 936 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 334 shares during the period. Finally, Strategic Wealth Investment Group LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $218,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 4.1 %

Shares of Parker-Hannifin stock traded down $22.44 on Wednesday, reaching $529.22. The stock had a trading volume of 1,113,795 shares, compared to its average volume of 661,022. The stock has a market capitalization of $68.03 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.11 and a beta of 1.44. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $524.84 and a 200 day moving average price of $525.01.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the business posted $5.93 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were paid a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 30.73%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PH shares. Stifel Nicolaus lowered their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Bank of America boosted their price objective on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Barclays dropped their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Argus lifted their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Truist Financial boosted their price objective on shares of Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $576.27.

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.