Gulf International Bank UK Ltd Has $6.35 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Gulf International Bank UK Ltd boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,433 shares of the industrial products company’s stock after acquiring an additional 839 shares during the period. Gulf International Bank UK Ltd’s holdings in Parker-Hannifin were worth $6,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. Norges Bank acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $665,188,000. Northern Trust Corp raised its position in shares of Parker-Hannifin by 2.9% during the third quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock valued at $510,320,000 after buying an additional 36,744 shares during the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of Parker-Hannifin by 42.2% during the fourth 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 buying an additional 336,370 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Parker-Hannifin by 3.7% during the fourth quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock valued at $320,173,000 after buying an additional 25,060 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Parker-Hannifin by 11.8% during the fourth quarter. Wells Fargo & Company MN now owns 630,306 shares of the industrial products company’s stock valued at $290,382,000 after buying an additional 66,331 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PH. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Argus raised their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. KeyCorp raised their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Truist Financial restated a “buy” rating and set a $611.00 price target on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $566.33.

Insiders Place Their Bets

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

Parker-Hannifin Price Performance

PH opened at $504.16 on Friday. The company has a fifty day moving average price of $534.48 and a two-hundred day moving average price of $513.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. The firm has a market capitalization of $64.80 billion, a PE ratio of 23.76, a P/E/G ratio of 2.03 and a beta of 1.46.

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

Parker-Hannifin Increases Dividend

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

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.