Parker-Hannifin Corporation $PH Stock Position Raised by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP grew its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 40.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,082 shares of the industrial products company’s stock after buying an additional 2,593 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Parker-Hannifin were worth $6,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PH. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new stake in Parker-Hannifin in the third quarter worth approximately $29,000. Ameriflex Group Inc. increased its stake in shares of Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at $36,000. Finally, Johnson Financial Group Inc. lifted its stake in shares of Parker-Hannifin by 84.6% in the 3rd quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 1.3%

Parker-Hannifin stock opened at $890.28 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The firm has a fifty day moving average price of $959.64 and a two-hundred day moving average price of $858.78. The firm has a market cap of $112.37 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.87 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $6.53 earnings per share. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Barclays upped their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Truist Financial set a $1,139.00 target price on Parker-Hannifin in a report on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.