453 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Sivia Capital Partners LLC

Sivia Capital Partners LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 453 shares of the industrial products company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in Parker-Hannifin in the fourth quarter valued at $665,188,000. Alphinity Investment Management Pty Ltd lifted its stake in shares of Parker-Hannifin by 42.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after purchasing an additional 336,370 shares in the last quarter. FMR LLC grew its holdings in shares of Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the period. Kodai Capital Management LP acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $122,449,000. Finally, International Assets Investment Management LLC raised its holdings in Parker-Hannifin by 65,634.7% in the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after buying an additional 219,220 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $506.03 on Tuesday. The firm has a 50-day moving average of $538.42 and a two-hundred day moving average of $511.88. The company has a market capitalization of $65.05 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.01 and a beta of 1.46. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $5.93 EPS. As a group, analysts expect that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is 30.73%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Argus lifted their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Truist Financial restated a “buy” rating and set a $611.00 price objective on shares of Parker-Hannifin in a report on Wednesday, May 15th. Four investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $566.33.

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.