Dupont Capital Management Corp Sells 2,771 Shares of Parker-Hannifin Corporation $PH

Dupont Capital Management Corp cut its holdings in Parker-Hannifin Corporation (NYSE:PH) by 17.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,202 shares of the industrial products company’s stock after selling 2,771 shares during the period. Parker-Hannifin makes up 1.3% of Dupont Capital Management Corp’s investment portfolio, making the stock its 22nd biggest holding. Dupont Capital Management Corp’s holdings in Parker-Hannifin were worth $11,604,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Procyon Advisors LLC boosted its holdings in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Bank of America Corp DE boosted its holdings in Parker-Hannifin by 0.6% in the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after purchasing an additional 22,706 shares in the last quarter. Capital World Investors boosted its holdings in Parker-Hannifin by 7.0% in the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after purchasing an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after purchasing an additional 13,309 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Parker-Hannifin by 0.5% in the third quarter. Envestnet Asset Management Inc. now owns 817,094 shares of the industrial products company’s stock worth $619,480,000 after purchasing an additional 4,454 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares of the company’s stock, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last three months. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 0.9%

Shares of PH opened at $955.43 on Friday. The company has a 50-day simple moving average of $953.87 and a 200-day simple moving average of $885.89. The firm has a market capitalization of $120.59 billion, a P/E ratio of 34.84, a P/E/G ratio of 3.10 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin Corporation has a 52 week low of $538.08 and a 52 week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $6.53 earnings per share. On average, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PH. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Citigroup upped their price target on shares of Parker-Hannifin from $1,092.00 to $1,137.00 and gave the company a “buy” rating in a report on Monday. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,000.60.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.