National Pension Service Acquires 29,825 Shares of Parker-Hannifin Co. (NYSE:PH)

National Pension Service increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 10.0% during the third quarter, Holdings Channel.com reports. The fund owned 326,728 shares of the industrial products company’s stock after purchasing an additional 29,825 shares during the quarter. National Pension Service’s holdings in Parker-Hannifin were worth $206,433,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Lansing Street Advisors bought a new position in Parker-Hannifin during the third quarter worth about $272,000. Nvwm LLC increased its position in Parker-Hannifin by 4.2% during the third quarter. Nvwm LLC now owns 1,752 shares of the industrial products company’s stock worth $1,107,000 after acquiring an additional 70 shares during the period. Janney Montgomery Scott LLC increased its position in Parker-Hannifin by 0.4% during the third quarter. Janney Montgomery Scott LLC now owns 44,361 shares of the industrial products company’s stock worth $28,029,000 after acquiring an additional 160 shares during the period. Clear Creek Financial Management LLC increased its position in Parker-Hannifin by 17.1% during the third quarter. Clear Creek Financial Management LLC now owns 857 shares of the industrial products company’s stock worth $542,000 after acquiring an additional 125 shares during the period. Finally, Argonautica Private Wealth Management Inc. increased its position in Parker-Hannifin by 1.1% during the third quarter. Argonautica Private Wealth Management Inc. now owns 4,107 shares of the industrial products company’s stock worth $2,595,000 after acquiring an additional 43 shares during the period. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on PH shares. Truist Financial raised their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Raymond James raised their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $664.57.

Insider Buying and Selling

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 0.3 %

Shares of Parker-Hannifin stock opened at $637.21 on Monday. The firm has a market capitalization of $81.99 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.55 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $615.46 and its 200 day moving average is $565.22. Parker-Hannifin Co. has a 1 year low of $399.19 and a 1 year high of $646.60.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the company earned $5.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

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.