Point72 Asia Singapore Pte. Ltd. Has $1.99 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 71.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,153 shares of the industrial products company’s stock after acquiring an additional 1,317 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Parker-Hannifin were worth $1,992,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $25,000. Bangor Savings Bank raised its stake in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $39,000. Finally, Fortitude Family Office LLC raised its stake in shares of Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.4 %

Shares of NYSE:PH opened at $702.90 on Monday. Parker-Hannifin Co. has a 12-month low of $426.78 and a 12-month high of $712.42. The stock has a market cap of $90.48 billion, a PE ratio of 31.75, a P/E/G ratio of 2.84 and a beta of 1.43. The business has a 50 day moving average of $656.37 and a 200-day moving average of $585.92. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Insider Transactions at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 over the last quarter. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Truist Financial lifted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a report on Monday, November 18th. Evercore ISI raised their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company raised their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.40.

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.