Hartford Investment Management Co. Sells 142 Shares of Parker-Hannifin Co. (NYSE:PH)

Hartford Investment Management Co. lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,107 shares of the industrial products company’s stock after selling 142 shares during the quarter. Hartford Investment Management Co.’s holdings in Parker-Hannifin were worth $5,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PH. 1832 Asset Management L.P. raised its holdings in Parker-Hannifin by 305.0% in the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after acquiring an additional 231,788 shares in the last quarter. AMF Tjanstepension AB raised its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Mackenzie Financial Corp lifted its position in Parker-Hannifin by 107.7% during the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock worth $137,437,000 after purchasing an additional 140,898 shares during the period. Swedbank AB grew its stake in Parker-Hannifin by 377.8% during the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after buying an additional 125,000 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Parker-Hannifin by 32.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 466,791 shares of the industrial products company’s stock valued at $258,971,000 after buying an additional 115,234 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.1 %

Parker-Hannifin stock traded down $0.88 during mid-day trading on Wednesday, hitting $628.40. 56,859 shares of the stock were exchanged, compared to its average volume of 633,752. The stock has a market capitalization of $80.86 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.60 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $646.60. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $608.89 and its two-hundred day simple moving average is $560.99.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.08 earnings per share. Analysts forecast that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. Parker-Hannifin’s payout ratio is 29.92%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The transaction 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 the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

PH has been the topic of a number of research analyst reports. Truist Financial raised their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Barclays raised their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 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 report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $660.57.

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.