Swedbank AB Buys 125,000 Shares of Parker-Hannifin Co. (NYSE:PH)

Swedbank AB raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 377.8% in the third quarter, Holdings Channel reports. The firm owned 158,085 shares of the industrial products company’s stock after acquiring an additional 125,000 shares during the quarter. Swedbank AB’s holdings in Parker-Hannifin were worth $99,881,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BOKF NA increased its stake in Parker-Hannifin by 12.9% in the 1st quarter. BOKF NA now owns 2,107 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 241 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Parker-Hannifin by 8.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 196,960 shares of the industrial products company’s stock worth $109,470,000 after purchasing an additional 15,079 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Parker-Hannifin during the 1st quarter valued at about $548,000. Zurich Insurance Group Ltd FI purchased a new stake in Parker-Hannifin in the 1st quarter worth about $2,001,000. Finally, Silvercrest Asset Management Group LLC lifted its stake in Parker-Hannifin by 12.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 12,812 shares of the industrial products company’s stock worth $7,121,000 after purchasing an additional 1,453 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PH shares. Truist Financial boosted their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. KeyCorp upped their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. Mizuho raised their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI boosted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Parker-Hannifin Trading Up 0.6 %

Shares of Parker-Hannifin stock opened at $706.87 on Monday. The firm has a 50-day simple moving average of $647.32 and a two-hundred day simple moving average of $580.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a fifty-two week low of $426.49 and a fifty-two week high of $711.60. The company has a market cap of $90.99 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.96 earnings per share. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Activity

In related news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

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.