Bokf Na Has $680,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Posted by Defense World Staff on Jun 12th, 2023

Parker-Hannifin logo Bokf Na lifted its stake in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 88.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,336 shares of the industrial products company’s stock after acquiring an additional 1,097 shares during the period. Bokf Na’s holdings in Parker-Hannifin were worth $680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc grew its stake in shares of Parker-Hannifin by 6.8% in the fourth quarter. CIBC Asset Management Inc now owns 18,320 shares of the industrial products company’s stock worth $5,331,000 after acquiring an additional 1,166 shares during the last quarter. Schechter Investment Advisors LLC lifted its position in Parker-Hannifin by 28.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 1,088 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 243 shares during the period. Panagora Asset Management Inc. lifted its position in Parker-Hannifin by 1.8% in the fourth quarter. Panagora Asset Management Inc. now owns 100,650 shares of the industrial products company’s stock worth $29,289,000 after purchasing an additional 1,790 shares during the period. Shelton Capital Management bought a new position in Parker-Hannifin in the fourth quarter worth $236,000. Finally, Jade Capital Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter worth $1,455,000. Institutional investors and hedge funds own 81.32% of the company’s stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $1.16 during trading on Monday, reaching $357.29. The company’s stock had a trading volume of 201,644 shares, compared to its average volume of 914,097. The stock has a 50-day moving average price of $327.72 and a two-hundred day moving average price of $322.51. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.17. Parker-Hannifin Co. has a one year low of $230.44 and a one year high of $364.57. The stock has a market capitalization of $45.88 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.49.

Parker-Hannifin (NYSE:PH – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The industrial products company reported $5.93 EPS for the quarter, topping analysts’ consensus estimates of $5.01 by $0.92. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.79 billion. Parker-Hannifin had a return on equity of 29.14% and a net margin of 8.28%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period last year, the company earned $4.83 earnings per share. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 20.89 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 12th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.66%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.33. The ex-dividend date was Thursday, May 11th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 51.26%.

Insider Buying and Selling

In related news, VP Mark T. Czaja sold 600 shares of Parker-Hannifin stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $337.00, for a total value of $202,200.00. Following the completion of the sale, the vice president now directly owns 2,241 shares in the company, valued at $755,217. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Mark T. Czaja sold 600 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $337.00, for a total transaction of $202,200.00. Following the completion of the transaction, the vice president now directly owns 2,241 shares in the company, valued at approximately $755,217. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Lee C. Banks sold 29,764 shares of the business’s 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 of the company’s stock, valued at $36,881,307.84. The disclosure for this sale can be found here. Corporate insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PH. BMO Capital Markets raised their target price on Parker-Hannifin from $390.00 to $405.00 in a research report on Tuesday, May 9th. Deutsche Bank Aktiengesellschaft raised their target price on Parker-Hannifin from $322.00 to $344.00 and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Stifel Nicolaus raised their target price on Parker-Hannifin from $376.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Wells Fargo & Company cut their price objective on Parker-Hannifin from $385.00 to $366.00 and set an “overweight” rating for the company in a report on Thursday, April 13th. Finally, Evercore ISI lifted their price objective on Parker-Hannifin from $413.00 to $440.00 in a report on Tuesday, May 9th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.46.

Parker-Hannifin Profile

(Get Rating)

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.