Parker-Hannifin Co. (NYSE:PH) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 74.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,467 shares of the industrial products company’s stock after selling 82,853 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Parker-Hannifin were worth $18,106,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Ameritas Advisory Services LLC lifted its position in Parker-Hannifin by 63.2% during the fourth quarter. Ameritas Advisory Services LLC now owns 2,675 shares of the industrial products company’s stock worth $1,701,000 after buying an additional 1,036 shares during the period. Grove Bank & Trust lifted its position in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after buying an additional 16 shares during the period. Ballentine Partners LLC lifted its position in Parker-Hannifin by 5.9% during the fourth quarter. Ballentine Partners LLC now owns 1,587 shares of the industrial products company’s stock worth $1,009,000 after buying an additional 89 shares during the period. Crossmark Global Holdings Inc. lifted its position in Parker-Hannifin by 7.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 19,258 shares of the industrial products company’s stock worth $12,249,000 after buying an additional 1,315 shares during the period. Finally, Aspiriant LLC lifted its position in Parker-Hannifin by 8.0% during the fourth quarter. Aspiriant LLC now owns 485 shares of the industrial products company’s stock worth $308,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $680.19 on Wednesday. The company has a market cap of $86.91 billion, a P/E ratio of 28.15, a PEG ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The business’s 50-day simple moving average is $606.46 and its 200 day simple moving average is $647.87.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $6.51 EPS. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Evercore ISI increased their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research report on Monday. Truist Financial cut their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Barclays cut their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, KeyCorp raised their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $718.44.

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.