MetLife Investment Management LLC Has $21.11 Million Position in Parker-Hannifin Co. (NYSE:PH)

MetLife Investment Management LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,415 shares of the industrial products company’s stock after selling 861 shares during the period. MetLife Investment Management LLC’s holdings in Parker-Hannifin were worth $21,112,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its position in Parker-Hannifin by 41.4% during the first quarter. Tidal Investments LLC now owns 7,843 shares of the industrial products company’s stock worth $4,360,000 after buying an additional 2,298 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Parker-Hannifin by 168.6% during the first quarter. Citizens Financial Group Inc. RI now owns 1,520 shares of the industrial products company’s stock valued at $845,000 after purchasing an additional 954 shares in the last quarter. Strategic Wealth Partners Ltd. raised its position in Parker-Hannifin by 20.9% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 872 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 151 shares during the last quarter. Swedbank AB bought a new stake in shares of Parker-Hannifin during the first quarter worth $20,140,000. Finally, Cetera Investment Advisers grew its holdings in Parker-Hannifin by 98.6% during the 1st quarter. Cetera Investment Advisers now owns 45,124 shares of the industrial products company’s stock worth $25,079,000 after acquiring an additional 22,407 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.0 %

PH stock opened at $699.71 on Thursday. The stock has a market capitalization of $90.07 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.84 and a beta of 1.43. The business has a 50-day moving average of $653.32 and a 200-day moving average of $583.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin Co. has a fifty-two week low of $426.49 and a fifty-two week high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.96 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction dated 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 sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PH shares. Raymond James upped their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Mizuho increased their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a research report on Monday, November 18th. Finally, Truist Financial boosted their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $691.40.

Parker-Hannifin 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.