Public Sector Pension Investment Board Grows Position in Parker-Hannifin Co. (NYSE:PH)

Public Sector Pension Investment Board raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 194,861 shares of the industrial products company’s stock after acquiring an additional 2,119 shares during the period. Public Sector Pension Investment Board owned approximately 0.15% of Parker-Hannifin worth $98,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilbert & Cook Inc. increased its position in shares of Parker-Hannifin by 5.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 49 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Parker-Hannifin by 122.3% during the 4th quarter. Clearbridge Investments LLC now owns 2,001 shares of the industrial products company’s stock valued at $922,000 after purchasing an additional 1,101 shares during the last quarter. SageView Advisory Group LLC increased its position in shares of Parker-Hannifin by 31.7% during the 4th quarter. SageView Advisory Group LLC now owns 1,989 shares of the industrial products company’s stock valued at $950,000 after purchasing an additional 479 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Parker-Hannifin by 14.8% during the 4th quarter. Advisory Services Network LLC now owns 3,965 shares of the industrial products company’s stock valued at $1,827,000 after purchasing an additional 511 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Parker-Hannifin by 4.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 33,924 shares of the industrial products company’s stock valued at $15,629,000 after purchasing an additional 1,357 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 owns 3,350 shares in the company, valued at $1,986,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 currently owned by company insiders.

Parker-Hannifin Price Performance

Shares of PH stock opened at $623.77 on Monday. The firm has a market cap of $80.18 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.42 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. The business’s 50 day moving average price is $571.23 and its 200-day moving average price is $547.89. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $627.30.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is presently 30.73%.

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.