Toronto Dominion Bank Sells 96 Shares of Parker-Hannifin Co. (NYSE:PH)

Toronto Dominion Bank lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.1% during the first quarter, HoldingsChannel reports. The fund owned 75,353 shares of the industrial products company’s stock after selling 96 shares during the quarter. Toronto Dominion Bank’s holdings in Parker-Hannifin were worth $41,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Norges Bank acquired a new position in Parker-Hannifin during the 4th quarter worth about $665,188,000. Alphinity Investment Management Pty Ltd lifted its stake in shares of Parker-Hannifin by 42.2% in the 4th 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 purchasing an additional 336,370 shares during the period. Kodai Capital Management LP acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $122,449,000. International Assets Investment Management LLC lifted its stake in shares of Parker-Hannifin by 65,634.7% in the 4th quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after purchasing an additional 219,220 shares during the period. Finally, Groupama Asset Managment acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $63,043,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PH shares. Argus boosted their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Truist Financial boosted their price objective on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Bank of America boosted their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus decreased their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $576.27.

Insider Activity

In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were 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 owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $9.48 during trading on Friday, hitting $554.61. The company’s stock had a trading volume of 543,815 shares, compared to its average volume of 661,268. The company has a market cap of $71.29 billion, a PE ratio of 26.14, a P/E/G ratio of 2.02 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $524.66 and a 200-day moving average of $525.84. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $5.93 earnings per share. As a group, research analysts anticipate that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

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.