KBC Group NV Raises Position in Parker-Hannifin Co. (NYSE:PH)

KBC Group NV increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,484 shares of the industrial products company’s stock after purchasing an additional 6,851 shares during the period. KBC Group NV’s holdings in Parker-Hannifin were worth $28,929,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its holdings in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the period. International Assets Investment Management LLC increased its position in Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares during the last quarter. World Investment Advisors LLC purchased a new position in Parker-Hannifin during the third quarter worth approximately $226,570,000. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PH. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. TD Cowen boosted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $722.81.

Parker-Hannifin Stock Up 0.4 %

Shares of Parker-Hannifin stock opened at $665.56 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $667.79 and a 200 day moving average price of $626.79. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $712.42. The firm has a market cap of $85.67 billion, a P/E ratio of 30.06, a P/E/G ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company posted $5.96 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Buying and Selling

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now owns 33,607 shares of the company’s stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction dated 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 directly owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 over the last quarter. 0.39% of the stock is owned by company insiders.

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.