Hudson Bay Capital Management LP Purchases 21,007 Shares of Parker-Hannifin Co. (NYSE:PH)

Hudson Bay Capital Management LP grew its position in Parker-Hannifin Co. (NYSE:PH) by 300.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,007 shares of the industrial products company’s stock after acquiring an additional 21,007 shares during the period. Hudson Bay Capital Management LP’s holdings in Parker-Hannifin were worth $17,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. Group One Trading LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth $336,000. Focus Partners Wealth raised its stake in Parker-Hannifin by 120.2% during the 4th quarter. Focus Partners Wealth now owns 14,185 shares of the industrial products company’s stock valued at $9,069,000 after purchasing an additional 7,742 shares during the period. Eisler Capital Management Ltd. purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $14,237,000. Ellevest Inc. lifted its holdings in Parker-Hannifin by 5.7% in the 4th quarter. Ellevest Inc. now owns 351 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 19 shares in the last quarter. Finally, Ethic Inc. boosted its stake in Parker-Hannifin by 10.5% in the 4th quarter. Ethic Inc. now owns 11,647 shares of the industrial products company’s stock worth $7,408,000 after purchasing an additional 1,105 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $647.60 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a market capitalization of $83.36 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.85 and a beta of 1.36. The firm’s 50-day moving average is $598.40 and its 200 day moving average is $645.46.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the firm posted $6.51 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.11%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a “hold” rating in a report on Friday, May 2nd. Evercore ISI increased their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup decreased their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $710.12.

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.