Aubrey Capital Management Ltd Makes New $2.86 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Aubrey Capital Management Ltd purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,200 shares of the industrial products company’s stock, valued at approximately $2,858,000. Parker-Hannifin accounts for about 1.2% of Aubrey Capital Management Ltd’s portfolio, making the stock its 25th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Alphinity Investment Management Pty Ltd bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $310,208,000. FMR LLC raised its position in shares of Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares during the period. International Assets Investment Management LLC raised its position in shares of Parker-Hannifin by 65,634.7% during the 4th quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after purchasing an additional 219,220 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Parker-Hannifin by 52.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 506,406 shares of the industrial products company’s stock valued at $197,255,000 after purchasing an additional 173,323 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $58,601,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the topic of a number of research reports. Truist Financial initiated coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. Barclays lifted their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Up 0.8 %

Shares of PH traded up $4.26 during mid-day trading on Friday, hitting $553.64. The company’s stock had a trading volume of 548,739 shares, compared to its average volume of 492,829. The company’s 50-day moving average is $543.27 and its 200-day moving average is $477.71. Parker-Hannifin Co. has a 52-week low of $312.36 and a 52-week high of $570.15. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.01 and a beta of 1.52. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.76 EPS. On average, equities research analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 29.31%.

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.