Parker-Hannifin Co. (NYSE:PH) Position Trimmed by Hilltop National Bank

Hilltop National Bank decreased its position in Parker-Hannifin Co. (NYSE:PH) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,077 shares of the industrial products company’s stock after selling 148 shares during the quarter. Hilltop National Bank’s holdings in Parker-Hannifin were worth $685,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PH. Franklin Resources Inc. increased its position in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares during the period. Wilkinson Global Asset Management LLC increased its holdings in shares of Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares during the period. Banco Santander S.A. raised its position in shares of Parker-Hannifin by 11.9% during the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock valued at $9,147,000 after buying an additional 1,544 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Parker-Hannifin by 88.4% in the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after buying an additional 691 shares during the period. Finally, FMR LLC grew its position in Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after buying an additional 272,531 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 2.3 %

Parker-Hannifin stock traded down $14.53 during mid-day trading on Friday, hitting $626.97. The stock had a trading volume of 132,697 shares, compared to its average volume of 465,979. The stock has a 50-day simple moving average of $673.38 and a two-hundred day simple moving average of $612.50. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $80.70 billion, a PE ratio of 28.32, a P/E/G ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a 12 month low of $453.18 and a 12 month high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company earned $5.96 EPS. Parker-Hannifin’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group assumed coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. 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. Finally, Wells Fargo & Company decreased their price objective on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $722.94.

Insider Activity at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock worth $12,303,829 in the last ninety days. Company insiders own 0.39% 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.