XTX Topco Ltd Boosts Position in Parker-Hannifin Co. (NYSE:PH)

XTX Topco Ltd boosted its position in Parker-Hannifin Co. (NYSE:PH) by 567.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,312 shares of the industrial products company’s stock after acquiring an additional 6,216 shares during the quarter. Parker-Hannifin accounts for approximately 0.3% of XTX Topco Ltd’s portfolio, making the stock its 25th largest holding. XTX Topco Ltd’s holdings in Parker-Hannifin were worth $3,698,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PH. TD Asset Management Inc grew its position in shares of Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after buying an additional 79,774 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Parker-Hannifin by 8.5% during the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after buying an additional 1,802 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $4,068,000. Concurrent Investment Advisors LLC lifted its position in shares of Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after buying an additional 1,819 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. grew its stake in shares of Parker-Hannifin by 18.1% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock valued at $25,831,000 after acquiring an additional 8,600 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and issued a $673.00 price target (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Barclays cut their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $624.43.

Parker-Hannifin Trading Up 0.6 %

NYSE:PH opened at $608.97 on Thursday. The firm has a 50-day simple moving average of $567.55 and a 200-day simple moving average of $546.47. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $619.86. The firm has a market cap of $78.28 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $6.08 earnings per share. Equities analysts anticipate that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s payout ratio is currently 30.73%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

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.