Quadrature Capital Ltd Invests $4.07 Million in Parker-Hannifin Co. (NYSE:PH)

Quadrature Capital Ltd purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,823 shares of the industrial products company’s stock, valued at approximately $4,068,000.

Other large investors have also recently modified their holdings of the company. Sapient Capital LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $1,392,000. abrdn plc increased its holdings in Parker-Hannifin by 57.8% in the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after buying an additional 20,073 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Parker-Hannifin in the 4th quarter worth about $3,305,000. Independent Advisor Alliance increased its holdings in Parker-Hannifin by 8.3% in the 4th quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock worth $7,479,000 after buying an additional 1,243 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. increased its holdings in Parker-Hannifin by 18.1% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock worth $25,831,000 after buying an additional 8,600 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 research analysts recently commented on PH shares. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Bank of America lifted their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Truist Financial reiterated a “buy” rating and issued a $611.00 price objective on shares of Parker-Hannifin in a report on Wednesday, May 15th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Argus boosted their price target on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $566.33.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was 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 $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Trading Up 0.2 %

Shares of NYSE:PH opened at $506.83 on Wednesday. The stock has a 50 day moving average of $537.33 and a 200 day moving average of $512.35. The company has a market cap of $65.15 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $5.93 EPS. As a group, equities research analysts expect that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. Parker-Hannifin’s payout ratio is 30.73%.

About Parker-Hannifin

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.