Parker-Hannifin Co. (NYSE:PH) Shares Purchased by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Parker-Hannifin Co. (NYSE:PH) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,016,091 shares of the industrial products company’s stock after acquiring an additional 172,064 shares during the period. Parker-Hannifin accounts for about 1.3% of DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s portfolio, making the stock its 19th largest position. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Parker-Hannifin were worth $1,282,294,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. CWA Asset Management Group LLC increased its stake in Parker-Hannifin by 26.1% during the fourth quarter. CWA Asset Management Group LLC now owns 439 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 91 shares during the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $35,000. Diversified Trust Co lifted its position in Parker-Hannifin by 4.0% in the fourth quarter. Diversified Trust Co now owns 1,017 shares of the industrial products company’s stock valued at $647,000 after buying an additional 39 shares during the last quarter. One Wealth Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $398,000. Finally, Sterneck Capital Management LLC raised its stake in shares of Parker-Hannifin by 34.2% in the 4th quarter. Sterneck Capital Management LLC now owns 502 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.2 %

Shares of PH opened at $615.08 on Wednesday. The firm’s 50-day moving average is $599.04 and its two-hundred day moving average is $645.38. The firm has a market capitalization of $79.17 billion, a P/E ratio of 25.46, a PEG ratio of 2.85 and a beta of 1.36. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44.

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

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is 27.72%.

Analyst Ratings Changes

A number of research firms have commented on PH. UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Wolfe Research lowered shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a “hold” rating in a report on Friday, May 2nd. Finally, Barclays dropped their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $711.88.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. The trade was a 6.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Company 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.