Parker-Hannifin Corporation (NYSE:PH) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,710 shares of the industrial products company’s stock after acquiring an additional 385 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Parker-Hannifin were worth $1,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Forum Financial Management LP boosted its stake in shares of Parker-Hannifin by 3.3% during the 1st quarter. Forum Financial Management LP now owns 1,410 shares of the industrial products company’s stock valued at $857,000 after buying an additional 45 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Parker-Hannifin by 10.3% in the first quarter. Kingsview Wealth Management LLC now owns 2,092 shares of the industrial products company’s stock worth $1,272,000 after buying an additional 196 shares during the period. Woodward Diversified Capital LLC increased its position in Parker-Hannifin by 9.2% in the first quarter. Woodward Diversified Capital LLC now owns 971 shares of the industrial products company’s stock worth $590,000 after buying an additional 82 shares during the period. Ascent Wealth Partners LLC increased its position in Parker-Hannifin by 93.9% in the first quarter. Ascent Wealth Partners LLC now owns 3,707 shares of the industrial products company’s stock worth $2,253,000 after buying an additional 1,795 shares during the period. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in Parker-Hannifin in the first quarter worth about $279,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PH shares. KeyCorp raised their target price on shares of Parker-Hannifin from $735.00 to $790.00 and gave the company an “overweight” rating in a research note on Tuesday. Truist Financial dropped their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Mizuho set a $785.00 price objective on Parker-Hannifin in a research report on Friday, May 16th. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $739.12.

Insider Activity at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president owned 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $723.47 on Friday. The stock has a market cap of $92.45 billion, a P/E ratio of 27.86, a PEG ratio of 3.05 and a beta of 1.34. The stock has a 50 day simple moving average of $679.48 and a 200 day simple moving average of $647.91. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $736.75.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.51 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.00%. Parker-Hannifin’s payout ratio is currently 27.72%.

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.