Parker-Hannifin Co. (NYSE:PH) Holdings Trimmed by Calamos Advisors LLC

Calamos Advisors LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 13.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,285 shares of the industrial products company’s stock after selling 8,457 shares during the period. Calamos Advisors LLC’s holdings in Parker-Hannifin were worth $24,088,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Baystate Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at $30,000. Oakworth Capital Inc. grew its holdings in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $42,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

Shares of PH traded up $3.17 during trading hours on Friday, reaching $541.26. 61,544 shares of the company traded hands, compared to its average volume of 581,828. The stock has a market cap of $69.50 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.52. The stock’s fifty day moving average is $540.09 and its 200 day moving average is $471.11. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.76 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.09%. Parker-Hannifin’s dividend payout ratio is 29.31%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. KeyCorp upped their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays boosted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Truist Financial initiated coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

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.