Forsta AP Fonden Acquires 1,200 Shares of Parker-Hannifin Co. (NYSE:PH)

Forsta AP Fonden boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,600 shares of the industrial products company’s stock after acquiring an additional 1,200 shares during the period. Forsta AP Fonden’s holdings in Parker-Hannifin were worth $22,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. West Branch Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $25,000. Bangor Savings Bank boosted its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares during the period. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,864 shares of the business’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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last 90 days. 0.39% of the stock is owned by insiders.

Parker-Hannifin Trading Up 0.4 %

NYSE PH opened at $665.56 on Wednesday. The company has a market cap of $85.67 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $667.31 and its 200 day moving average is $627.69.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.90 billion. During the same period last year, the firm posted $5.96 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PH. UBS Group began coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective on the stock. Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Stifel Nicolaus dropped their price objective on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company reduced their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $722.81.

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.