Parker-Hannifin Co. (NYSE:PH) Shares Sold by Skandinaviska Enskilda Banken AB publ

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH – Get Rating) by 28.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,552 shares of the industrial products company’s stock after selling 615 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Parker-Hannifin were worth $452,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. AE Wealth Management LLC increased its position in Parker-Hannifin by 26.4% during the fourth quarter. AE Wealth Management LLC now owns 10,876 shares of the industrial products company’s stock worth $3,165,000 after purchasing an additional 2,273 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Parker-Hannifin by 4.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,259,286 shares of the industrial products company’s stock valued at $305,175,000 after buying an additional 51,032 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Parker-Hannifin by 15.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,302 shares of the industrial products company’s stock worth $7,072,000 after buying an additional 3,176 shares during the last quarter. Kentucky Retirement Systems lifted its holdings in Parker-Hannifin by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 10,093 shares of the industrial products company’s stock valued at $2,937,000 after acquiring an additional 44 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Parker-Hannifin by 9.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,928 shares of the industrial products company’s stock worth $5,507,000 after acquiring an additional 1,634 shares during the period. 81.32% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $323.99 on Friday. The business has a 50-day simple moving average of $326.47 and a 200-day simple moving average of $317.22. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.72 and a current ratio of 1.25. Parker-Hannifin Co. has a one year low of $230.44 and a one year high of $364.57. The company has a market cap of $41.57 billion, a PE ratio of 28.05, a P/E/G ratio of 1.36 and a beta of 1.49.

Parker-Hannifin (NYSE:PH – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The industrial products company reported $5.93 EPS for the quarter, topping the consensus estimate of $5.01 by $0.92. Parker-Hannifin had a net margin of 8.28% and a return on equity of 29.14%. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the business posted $4.83 EPS. The firm’s revenue was up 23.9% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Co. will post 20.87 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 12th will be paid a $1.48 dividend. The ex-dividend date is Thursday, May 11th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.33. This represents a $5.92 dividend on an annualized basis and a yield of 1.83%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 46.06%.

Insiders Place Their Bets

In other news, Vice Chairman Lee C. Banks sold 29,764 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $333.84, for a total value of $9,936,413.76. Following the transaction, the insider now owns 110,476 shares in the company, valued at approximately $36,881,307.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Vice Chairman Lee C. Banks sold 29,764 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $333.84, for a total value of $9,936,413.76. Following the transaction, the insider now directly owns 110,476 shares of the company’s stock, valued at approximately $36,881,307.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark T. Czaja sold 600 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $337.00, for a total transaction of $202,200.00. Following the completion of the sale, the vice president now directly owns 2,241 shares of the company’s stock, valued at $755,217. The disclosure for this sale can be found here. Insiders sold 68,462 shares of company stock valued at $23,573,112 in the last ninety days. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PH. Evercore ISI raised their price objective on Parker-Hannifin from $413.00 to $440.00 in a research report on Tuesday, May 9th. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $385.00 to $366.00 and set an “overweight” rating on the stock in a research note on Thursday, April 13th. Barclays increased their price objective on shares of Parker-Hannifin from $343.00 to $400.00 and gave the stock an “overweight” rating in a research report on Sunday, February 5th. Credit Suisse Group boosted their target price on Parker-Hannifin from $417.00 to $446.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Finally, BMO Capital Markets lifted their price objective on Parker-Hannifin from $390.00 to $405.00 in a research note on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.46.

Parker-Hannifin Profile

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Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace Systems segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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