Aigen Investment Management LP Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Aigen Investment Management LP lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 56.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,066 shares of the industrial products company’s stock after buying an additional 385 shares during the period. Aigen Investment Management LP’s holdings in Parker-Hannifin were worth $674,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PH. Prime Capital Investment Advisors LLC grew its position in Parker-Hannifin by 4.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,419 shares of the industrial products company’s stock worth $897,000 after purchasing an additional 57 shares during the period. Savvy Advisors Inc. lifted its holdings in shares of Parker-Hannifin by 13.2% during the 3rd quarter. Savvy Advisors Inc. now owns 661 shares of the industrial products company’s stock valued at $418,000 after buying an additional 77 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of Parker-Hannifin by 2.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 4,588 shares of the industrial products company’s stock worth $2,899,000 after buying an additional 122 shares during the last quarter. Verus Capital Partners LLC grew its holdings in shares of Parker-Hannifin by 11.3% in the third quarter. Verus Capital Partners LLC now owns 1,468 shares of the industrial products company’s stock worth $928,000 after acquiring an additional 149 shares during the period. Finally, Harbour Investments Inc. increased its position in Parker-Hannifin by 100.4% during the third quarter. Harbour Investments Inc. now owns 1,511 shares of the industrial products company’s stock valued at $955,000 after acquiring an additional 757 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock valued at $12,807,811 over the last 90 days. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

PH opened at $706.54 on Thursday. The stock has a market capitalization of $90.95 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 2.82 and a beta of 1.43. The company has a fifty day moving average of $628.60 and a 200 day moving average of $572.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a fifty-two week low of $422.36 and a fifty-two week high of $711.60.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company earned $5.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Analyst Ratings Changes

Several brokerages have issued reports on PH. Truist Financial raised their target price on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James boosted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Robert W. Baird lifted their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Mizuho lifted their price target 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. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $688.07.

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.