Robeco Institutional Asset Management B.V. Cuts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Robeco Institutional Asset Management B.V. trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,227 shares of the industrial products company’s stock after selling 55 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Parker-Hannifin were worth $24,314,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PH. B. Riley Wealth Advisors Inc. grew its position in Parker-Hannifin by 2.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,450 shares of the industrial products company’s stock valued at $1,239,000 after purchasing an additional 64 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Parker-Hannifin by 7.6% during the second quarter. Cetera Investment Advisers now owns 48,575 shares of the industrial products company’s stock valued at $24,570,000 after acquiring an additional 3,451 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Parker-Hannifin by 52.5% in the 2nd quarter. Clearbridge Investments LLC now owns 4,040 shares of the industrial products company’s stock worth $2,043,000 after acquiring an additional 1,390 shares during the last quarter. Creekside Partners bought a new position in Parker-Hannifin in the 2nd quarter valued at approximately $207,000. Finally, Sanctuary Advisors LLC purchased a new stake in Parker-Hannifin during the 2nd quarter valued at $17,981,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock worth $8,595,207 over the last quarter. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PH. KeyCorp boosted their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Stifel Nicolaus reduced their price target on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Stock Performance

PH opened at $704.04 on Friday. The firm has a market cap of $90.62 billion, a P/E ratio of 31.80, a PEG ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $463.16 and a 1-year high of $712.42. The company has a 50 day simple moving average of $666.79 and a two-hundred day simple moving average of $627.94. 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 (NYSE:PH) last issued its quarterly earnings results 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 return on equity of 27.95% and a net margin of 14.47%. Equities analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be paid 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 payout ratio is 29.45%.

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.