LMR Partners LLP Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

LMR Partners LLP increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 694 shares of the industrial products company’s stock after buying an additional 81 shares during the period. LMR Partners LLP’s holdings in Parker-Hannifin were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PH. TrinityPoint Wealth LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth approximately $213,000. Swiss National Bank increased its stake in shares of Parker-Hannifin by 0.3% in the third quarter. Swiss National Bank now owns 381,500 shares of the industrial products company’s stock worth $241,039,000 after buying an additional 1,300 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Parker-Hannifin by 4.8% in the third quarter. Thrivent Financial for Lutherans now owns 39,887 shares of the industrial products company’s stock valued at $25,201,000 after acquiring an additional 1,825 shares in the last quarter. Claro Advisors LLC boosted its stake in Parker-Hannifin by 62.5% during the 3rd quarter. Claro Advisors LLC now owns 746 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 287 shares during the last quarter. Finally, Tower Bridge Advisors grew its holdings in Parker-Hannifin by 3.9% during the 3rd quarter. Tower Bridge Advisors now owns 9,303 shares of the industrial products company’s stock worth $5,878,000 after acquiring an additional 347 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’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 sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,927 shares of company stock valued at $12,807,811. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

NYSE PH opened at $689.56 on Wednesday. The company has a 50-day moving average price of $640.59 and a two-hundred day moving average price of $577.60. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $711.60. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm earned $5.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PH. Mizuho increased their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. TD Cowen boosted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $688.07.

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.