Parker-Hannifin Co. (NYSE:PH) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,137 shares of the industrial products company’s stock after selling 2,954 shares during the period. ExodusPoint Capital Management LP’s holdings in Parker-Hannifin were worth $17,605,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Moors & Cabot Inc. boosted its stake in shares of Parker-Hannifin by 1.0% during the 2nd quarter. Moors & Cabot Inc. now owns 2,520 shares of the industrial products company’s stock worth $983,000 after purchasing an additional 25 shares during the last quarter. Venture Visionary Partners LLC boosted its stake in shares of Parker-Hannifin by 2.3% during the 2nd quarter. Venture Visionary Partners LLC now owns 1,152 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 26 shares during the last quarter. Avantax Planning Partners Inc. boosted its stake in shares of Parker-Hannifin by 1.4% during the 2nd quarter. Avantax Planning Partners Inc. now owns 2,021 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 27 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Parker-Hannifin by 4.2% in the second quarter. Sigma Planning Corp now owns 669 shares of the industrial products company’s stock worth $261,000 after acquiring an additional 27 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in shares of Parker-Hannifin by 1.5% in the second quarter. Coldstream Capital Management Inc. now owns 1,914 shares of the industrial products company’s stock worth $747,000 after acquiring an additional 28 shares during the last quarter. 82.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PH. Barclays raised their target price on shares of Parker-Hannifin from $425.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. StockNews.com began coverage on shares of Parker-Hannifin in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. KeyCorp raised their target price on shares of Parker-Hannifin from $450.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Bank of America raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their target price for the stock from $435.00 to $475.00 in a research report on Thursday, October 5th. Finally, Robert W. Baird raised their price target on shares of Parker-Hannifin from $436.00 to $465.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $450.71.

Insider Activity

In other news, CFO Todd M. Leombruno sold 5,002 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the completion of the transaction, the chief financial officer now owns 11,656 shares of the company’s stock, valued at $4,850,178.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Todd M. Leombruno sold 5,002 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $416.11, for a total value of $2,081,382.22. Following the completion of the sale, the chief financial officer now owns 11,656 shares of the company’s stock, valued at $4,850,178.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,660 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $409.91, for a total transaction of $680,450.60. Following the completion of the sale, the director now directly owns 5,487 shares of the company’s stock, valued at approximately $2,249,176.17. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Down 0.3 %

Shares of NYSE:PH opened at $431.53 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.50 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $394.29 and a 200 day simple moving average of $384.94. The firm has a market cap of $55.44 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. Parker-Hannifin Co. has a 12-month low of $281.19 and a 12-month high of $434.04.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.63. Parker-Hannifin had a net margin of 11.92% and a return on equity of 29.56%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the company posted $4.74 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 23.14 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, November 10th. Parker-Hannifin’s dividend payout ratio (DPR) is 32.87%.

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.