MetLife Investment Management LLC Decreases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

MetLife Investment Management LLC cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,415 shares of the industrial products company’s stock after selling 861 shares during the period. MetLife Investment Management LLC’s holdings in Parker-Hannifin were worth $21,112,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PH. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Bangor Savings Bank boosted its stake in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $39,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PH. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Truist Financial raised their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. UBS Group started coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective on the stock. Finally, Evercore ISI raised their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $699.71 on Thursday. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $712.42. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $653.32 and its two-hundred day moving average price is $583.58. The stock has a market cap of $90.07 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the business earned $5.96 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,077 shares of company stock valued at $12,303,829. Corporate 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.