Elo Mutual Pension Insurance Co Has $5.57 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Elo Mutual Pension Insurance Co cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 6.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,002 shares of the industrial products company’s stock after selling 737 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Parker-Hannifin were worth $5,565,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after purchasing an additional 105,475 shares in the last quarter. Boston Partners boosted its position in shares of Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after acquiring an additional 43,535 shares in the last quarter. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the last quarter. Baird Financial Group Inc. raised its position in 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 purchasing an additional 25,060 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Parker-Hannifin by 18.1% during the second quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock worth $330,061,000 after purchasing an additional 99,959 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial reissued a “buy” rating and set a $673.00 price target (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Robert W. Baird boosted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Raymond James increased their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Barclays decreased their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Finally, Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $624.43.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Up 0.6 %

Shares of NYSE:PH opened at $608.97 on Thursday. The firm has a market cap of $78.28 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.39 and a beta of 1.43. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $619.86. The business has a fifty day simple moving average of $567.55 and a 200 day simple moving average of $546.47. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $6.08 earnings per share. Analysts predict that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.