South Dakota Investment Council Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

South Dakota Investment Council decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,150 shares of the industrial products company’s stock after selling 600 shares during the period. South Dakota Investment Council’s holdings in Parker-Hannifin were worth $3,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. OFI Invest Asset Management acquired a new position in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in Parker-Hannifin in the 4th quarter valued at about $26,000. Baystate Wealth Management LLC boosted its position in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares during the last quarter. Oakworth Capital Inc. boosted its position in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after buying an additional 28 shares during the last quarter. Finally, ORG Partners LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly 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 ninety days, insiders sold 12,079 shares of company stock valued at $6,099,566. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PH. Truist Financial began coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. Evercore ISI increased their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. KeyCorp raised their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Performance

Shares of PH opened at $546.35 on Thursday. The company has a market capitalization of $70.16 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company’s fifty day moving average price is $542.05 and its 200 day moving average price is $476.11.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.76 EPS. As a group, analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

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.