Hsbc Holdings PLC Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Hsbc Holdings PLC grew its holdings in Parker-Hannifin Co. (NYSE:PHFree Report) by 25.4% during the 4th quarter, Holdings Channel reports. The fund owned 269,924 shares of the industrial products company’s stock after purchasing an additional 54,649 shares during the period. Hsbc Holdings PLC’s holdings in Parker-Hannifin were worth $124,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sapient Capital LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at $1,392,000. abrdn plc boosted its holdings in Parker-Hannifin by 57.8% during the fourth quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after buying an additional 20,073 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth $3,305,000. Independent Advisor Alliance boosted its holdings in Parker-Hannifin by 8.3% during the fourth quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock worth $7,479,000 after buying an additional 1,243 shares in the last quarter. Finally, 17 Capital Partners LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth $2,271,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.6 %

Parker-Hannifin stock traded up $3.26 during midday trading on Monday, hitting $529.83. 644,000 shares of the stock were exchanged, compared to its average volume of 611,975. Parker-Hannifin Co. has a fifty-two week low of $319.14 and a fifty-two week high of $570.15. The stock has a market capitalization of $68.10 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.12 and a beta of 1.51. The stock’s 50-day simple moving average is $548.76 and its 200 day simple moving average is $501.41. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PHGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the business earned $5.93 earnings per share. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. On average, equities analysts anticipate that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jay Reidy sold 572 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Evercore ISI increased their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Bank of America increased their price objective on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. KeyCorp increased their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Argus increased their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $560.20.

View Our Latest Research Report on Parker-Hannifin

Parker-Hannifin Profile

(Free Report)

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.

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

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