Parker-Hannifin Co. (NYSE:PH) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 39.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,977,849 shares of the industrial products company’s stock after acquiring an additional 564,365 shares during the quarter. Wellington Management Group LLP owned about 1.54% of Parker-Hannifin worth $1,249,645,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at about $39,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter valued at about $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock valued at $12,303,829. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PH shares. Truist Financial increased their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. KeyCorp increased their target price on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $697.87.

Parker-Hannifin Trading Down 0.2 %

NYSE:PH opened at $694.81 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $662.19 and its two-hundred day moving average is $589.65. Parker-Hannifin Co. has a 52 week low of $431.98 and a 52 week high of $712.42. The company has a market cap of $89.44 billion, a PE ratio of 31.38, a P/E/G ratio of 2.83 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the business posted $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Parker-Hannifin 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.