Parker-Hannifin Co. (NYSE:PH) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 41,666 shares of the industrial products company’s stock after selling 274 shares during the period. Nisa Investment Advisors LLC’s holdings in Parker-Hannifin were worth $26,501,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Simon Quick Advisors LLC raised its stake in shares of Parker-Hannifin by 11.5% in the 4th quarter. Simon Quick Advisors LLC now owns 593 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 61 shares in the last quarter. Red Spruce Capital LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $341,000. Howard Capital Management Group LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $23,390,000. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Parker-Hannifin by 11.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,644 shares of the industrial products company’s stock valued at $1,046,000 after purchasing an additional 164 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its stake in shares of Parker-Hannifin by 53.3% in the 4th quarter. Atomi Financial Group Inc. now owns 1,125 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 391 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In related 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 transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock worth $12,303,829 over the last three months. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PH. Truist Financial upped their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Mizuho boosted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective for the company. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $722.94.

Parker-Hannifin Price Performance

NYSE PH opened at $674.15 on Thursday. Parker-Hannifin Co. has a 52 week low of $463.16 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 stock has a market cap of $86.78 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.74 and a beta of 1.45. The company has a 50-day moving average price of $669.77 and a two-hundred day moving average price of $622.37.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $5.96 earnings per share. Analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin 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.