Swiss National Bank Buys 1,300 Shares of Parker-Hannifin Co. (NYSE:PH)

Swiss National Bank increased its stake in Parker-Hannifin Co. (NYSE:PH) by 0.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 381,500 shares of the industrial products company’s stock after acquiring an additional 1,300 shares during the period. Swiss National Bank’s holdings in Parker-Hannifin were worth $241,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the third quarter worth about $25,000. Bangor Savings Bank increased its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Addison Advisors LLC purchased a new position in Parker-Hannifin during the second quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the third quarter worth $39,000. Finally, Fortitude Family Office LLC grew its stake in shares of Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,927 shares of company stock worth $12,807,811. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen lifted 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, November 12th. UBS Group started coverage on shares of Parker-Hannifin in a report on Wednesday. They set a “buy” rating and a $842.00 price target on the stock. Truist Financial boosted their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Stock Performance

PH stock opened at $698.91 on Friday. Parker-Hannifin Co. has a twelve month low of $425.20 and a twelve month high of $711.60. The firm has a market cap of $89.96 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.82 and a beta of 1.43. The business’s fifty day simple moving average is $636.19 and its two-hundred day simple moving average is $575.15. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating 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 firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the firm posted $5.96 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

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.