Sapient Capital LLC Reduces Holdings in Parker-Hannifin Co. (NYSE:PH)

Sapient Capital LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,842 shares of the industrial products company’s stock after selling 31 shares during the period. Sapient Capital LLC’s holdings in Parker-Hannifin were worth $1,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Norges Bank acquired a new position in Parker-Hannifin during the fourth quarter worth $665,188,000. Alphinity Investment Management Pty Ltd acquired a new position in Parker-Hannifin during the third quarter worth $310,208,000. FMR LLC lifted its stake in shares of Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. Kodai Capital Management LP acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $122,449,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Parker-Hannifin by 65,634.7% in the 4th quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after purchasing an additional 219,220 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.7 %

Shares of PH traded down $9.53 during mid-day trading on Tuesday, reaching $544.91. The company’s stock had a trading volume of 625,426 shares, compared to its average volume of 584,651. Parker-Hannifin Co. has a 12-month low of $318.32 and a 12-month high of $570.15. The stock has a market cap of $69.97 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.03 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company’s 50 day moving average is $544.46 and its 200 day moving average is $480.89.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.76 EPS. Equities analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PH. Stifel Nicolaus upped their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial initiated coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Evercore ISI increased their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, KeyCorp increased their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $515.38.

Insiders Place Their Bets

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by company insiders.

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.