Pacer Advisors Inc. Has $6.65 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Pacer Advisors Inc. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 9.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,458 shares of the industrial products company’s stock after buying an additional 936 shares during the quarter. Pacer Advisors Inc.’s holdings in Parker-Hannifin were worth $6,652,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. West Branch Capital LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $25,000. Bangor Savings Bank raised its position in shares of Parker-Hannifin by 238.5% in 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 in the last quarter. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin during the 4th quarter worth $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at $39,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock worth $12,303,829 over the last ninety days. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday, January 24th. KeyCorp increased their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Trading Down 0.3 %

Shares of NYSE PH opened at $664.21 on Thursday. The stock has a market cap of $85.50 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. The firm has a 50 day moving average price of $667.31 and a two-hundred day moving average price of $627.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a 52-week low of $463.16 and a 52-week high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company earned $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.