Canada Post Corp Registered Pension Plan Boosts Holdings in Parker-Hannifin Corporation $PH

Canada Post Corp Registered Pension Plan lifted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 28.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,720 shares of the industrial products company’s stock after purchasing an additional 603 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Parker-Hannifin were worth $2,050,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 1.8% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,831 shares of the industrial products company’s stock worth $1,388,000 after acquiring an additional 32 shares in the last quarter. SlateStone Wealth LLC grew its stake in Parker-Hannifin by 25.7% during the 3rd quarter. SlateStone Wealth LLC now owns 1,959 shares of the industrial products company’s stock worth $1,485,000 after purchasing an additional 400 shares in the last quarter. MONECO Advisors LLC grew its stake in Parker-Hannifin by 9.1% during the 3rd quarter. MONECO Advisors LLC now owns 550 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 46 shares in the last quarter. Waterloo Capital L.P. increased its holdings in Parker-Hannifin by 3.7% during the 3rd quarter. Waterloo Capital L.P. now owns 1,008 shares of the industrial products company’s stock worth $764,000 after purchasing an additional 36 shares during the period. Finally, ABN AMRO Bank N.V. purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $227,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $977.70 on Friday. The stock’s 50-day moving average is $908.41 and its two-hundred day moving average is $815.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $989.13. The firm has a market cap of $123.41 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 3.33 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. The business had revenue of $5.17 billion during 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 business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.53 EPS. Analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s payout ratio is currently 26.26%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Susquehanna restated a “positive” rating and issued a $1,000.00 price objective on shares of Parker-Hannifin in a report on Wednesday, November 12th. Argus reaffirmed a “buy” rating and set a $900.00 price objective on shares of Parker-Hannifin in a research report on Monday, November 10th. KeyCorp reissued an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Truist Financial set a $1,139.00 price target on Parker-Hannifin in a research note on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $990.47.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $11,739,907.20. This represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the company’s 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 sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,769 shares of company stock valued at $9,649,169 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

About Parker-Hannifin

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.