Baader Bank Aktiengesellschaft Grows Stake in Parker-Hannifin Co. (NYSE:PH)

Baader Bank Aktiengesellschaft lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 683 shares of the industrial products company’s stock after purchasing an additional 90 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Parker-Hannifin were worth $434,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank raised its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the fourth quarter worth about $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,200 shares of company stock valued at $8,595,207 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Performance

PH stock opened at $704.04 on Friday. The company has a market capitalization of $90.62 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 2.76 and a beta of 1.45. The firm has a 50 day moving average of $666.79 and a two-hundred day moving average of $627.94. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PH. Jefferies Financial Group lifted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Truist Financial increased their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays lifted their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company decreased their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Stifel Nicolaus reduced their target price on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $722.81.

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.