Wellington Management Group LLP Sells 1,013,718 Shares of Parker-Hannifin Corporation $PH

Wellington Management Group LLP trimmed its holdings in Parker-Hannifin Corporation (NYSE:PH) by 41.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,452,615 shares of the industrial products company’s stock after selling 1,013,718 shares during the period. Wellington Management Group LLP owned about 1.15% of Parker-Hannifin worth $1,101,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Brighton Jones LLC raised its position in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC boosted its holdings in 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 acquiring an additional 32 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Parker-Hannifin by 0.5% in the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after acquiring an additional 15 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Parker-Hannifin by 26.2% in the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 166 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in shares of Parker-Hannifin by 3.6% in the second 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 last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other news, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Trading Down 1.3%

Shares of PH stock opened at $890.28 on Friday. The business’s fifty day moving average is $959.64 and its 200 day moving average is $858.10. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96. The company has a market capitalization of $112.37 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 2.91 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

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

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on PH shares. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a research report on Friday, January 30th. Morgan Stanley upped their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Wells Fargo & Company raised their target price on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $995.37.

About Parker-Hannifin

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.