Auxier Asset Management Decreases Stake in Parker-Hannifin Co. (NYSE:PH)

Auxier Asset Management reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,262 shares of the industrial products company’s stock after selling 70 shares during the period. Auxier Asset Management’s holdings in Parker-Hannifin were worth $1,042,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $665,188,000. Alphinity Investment Management Pty Ltd increased its stake in shares of Parker-Hannifin by 42.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after buying an additional 336,370 shares during the period. FMR LLC increased its stake in shares of Parker-Hannifin by 9.6% during the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after buying an additional 324,063 shares during the period. Kodai Capital Management LP purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $122,449,000. Finally, International Assets Investment Management LLC increased its stake in shares of Parker-Hannifin by 65,634.7% during the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after buying an additional 219,220 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PH. Truist Financial reissued a “buy” rating and set a $611.00 target price on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Evercore ISI lifted their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Wells Fargo & Company dropped their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $566.33.

Parker-Hannifin Stock Down 4.8 %

Parker-Hannifin stock opened at $503.30 on Friday. The stock has a market cap of $64.69 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.12 and a beta of 1.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $570.15. The stock has a fifty day moving average of $539.62 and a 200 day moving average of $510.20.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.93 earnings per share. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were given a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

About Parker-Hannifin

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.