Tema Etfs LLC Lowers Stock Holdings in Parker-Hannifin Corporation $PH

Tema Etfs LLC lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 11,413 shares of the industrial products company’s stock after selling 692 shares during the quarter. Tema Etfs LLC’s holdings in Parker-Hannifin were worth $10,032,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PH. Brighton Jones LLC boosted its stake in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC increased its stake in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after acquiring an additional 15 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 166 shares during the period. Finally, Sivia Capital Partners LLC boosted its position in shares of Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. BMO Capital Markets started coverage on Parker-Hannifin in a report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Citigroup increased their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Truist Financial set a $1,139.00 price target on Parker-Hannifin in a research report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price target on Parker-Hannifin in a research note on Thursday, January 29th. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $996.60.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $921.85 on Thursday. The firm has a fifty day moving average of $952.11 and a 200-day moving average of $871.56. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $116.36 billion, a P/E ratio of 33.62, a PEG ratio of 2.88 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the previous year, the business posted $6.53 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Insiders Place Their Bets

In related news, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,063 shares of company stock valued at $9,891,214. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.