Capital International Inc. CA Boosts Holdings in Parker-Hannifin Corporation $PH

Capital International Inc. CA raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 58.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,119 shares of the industrial products company’s stock after acquiring an additional 10,037 shares during the period. Capital International Inc. CA’s holdings in Parker-Hannifin were worth $20,560,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PH. Brighton Jones LLC lifted its holdings in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC grew its stake in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 32 shares during the period. Empowered Funds LLC grew its stake in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the sale, the vice president owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares in the company, valued at $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,551 shares of company stock valued at $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $949.78 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $958.04 and its 200-day simple moving average is $856.23. The company has a market cap of $119.88 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 3.00 and a beta of 1.23. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.53 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is 26.26%.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent analyst reports. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 target price on the stock. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a research report on Friday, January 30th. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.