Worldquant Millennium Advisors LLC Acquires 10,384 Shares of Parker-Hannifin Co. (NYSE:PH)

Worldquant Millennium Advisors LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,320 shares of the industrial products company’s stock after purchasing an additional 10,384 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.09% of Parker-Hannifin worth $70,334,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Stansberry Asset Management LLC boosted its stake in shares of Parker-Hannifin by 6.4% during the 3rd quarter. Stansberry Asset Management LLC now owns 12,177 shares of the industrial products company’s stock worth $7,694,000 after buying an additional 730 shares during the last quarter. State Street Corp raised its holdings in Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. Stifel Financial Corp boosted its position in Parker-Hannifin by 9.3% during the third quarter. Stifel Financial Corp now owns 264,722 shares of the industrial products company’s stock valued at $167,267,000 after purchasing an additional 22,572 shares during the last quarter. Quantinno Capital Management LP grew its stake in Parker-Hannifin by 34.3% in the third quarter. Quantinno Capital Management LP now owns 7,979 shares of the industrial products company’s stock valued at $5,042,000 after purchasing an additional 2,039 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Parker-Hannifin by 3.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 52,655 shares of the industrial products company’s stock worth $33,268,000 after purchasing an additional 1,789 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.2 %

NYSE PH opened at $694.81 on Friday. Parker-Hannifin Co. has a fifty-two week low of $431.98 and a fifty-two week high of $712.42. The business has a fifty day moving average price of $662.19 and a two-hundred day moving average price of $589.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock has a market capitalization of $89.44 billion, a PE ratio of 31.38, a PEG ratio of 2.83 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.96 earnings per share. Equities analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. Parker-Hannifin’s payout ratio is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on PH. Barclays increased their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial lifted their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Argus raised their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $697.87.

About Parker-Hannifin

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.