Atlantic Union Bankshares Corp Sells 322 Shares of Parker-Hannifin Corporation $PH

Atlantic Union Bankshares Corp trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,585 shares of the industrial products company’s stock after selling 322 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Parker-Hannifin were worth $8,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PH. Nuveen LLC bought a new stake in shares of Parker-Hannifin during the first quarter worth $933,089,000. Price T Rowe Associates Inc. MD lifted its position in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock worth $1,221,323,000 after purchasing an additional 208,573 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Parker-Hannifin by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 996,738 shares of the industrial products company’s stock valued at $605,867,000 after acquiring an additional 191,799 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock valued at $6,700,795,000 after acquiring an additional 168,990 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,361 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the sale, the vice president owned 5,465 shares in the company, valued at $3,986,717.50. The trade was a 17.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,039 shares of company stock valued at $10,356,566 in the last three months. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Susquehanna assumed coverage on Parker-Hannifin in a report on Friday, August 15th. They issued a “positive” rating and a $860.00 price objective for the company. Stifel Nicolaus decreased their price objective on Parker-Hannifin from $726.00 to $723.00 and set a “hold” rating for the company in a report on Monday, October 20th. Finally, Evercore ISI restated an “outperform” rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $794.35.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $774.32 on Thursday. The company has a market capitalization of $97.99 billion, a PE ratio of 28.55, a P/E/G ratio of 3.21 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The company has a 50-day simple moving average of $755.45 and a two-hundred day simple moving average of $709.53. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $792.53.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping analysts’ consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 earnings per share. Research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 7th will be issued a $1.80 dividend. The ex-dividend date is Friday, November 7th. This represents a $7.20 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s payout ratio is currently 26.55%.

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.