Janus Henderson Group PLC Buys 9,223 Shares of Parker-Hannifin Co. (NYSE:PH)

Janus Henderson Group PLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 43.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,397 shares of the industrial products company’s stock after acquiring an additional 9,223 shares during the period. Janus Henderson Group PLC’s holdings in Parker-Hannifin were worth $19,326,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. JARISLOWSKY FRASER Ltd increased its holdings in Parker-Hannifin by 6.1% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 366 shares of the industrial products company’s stock valued at $233,000 after buying an additional 21 shares during the period. Hudson Bay Capital Management LP grew its holdings in Parker-Hannifin by 300.1% in the fourth quarter. Hudson Bay Capital Management LP now owns 28,007 shares of the industrial products company’s stock worth $17,813,000 after purchasing an additional 21,007 shares during the last quarter. Group One Trading LLC purchased a new position in Parker-Hannifin in the fourth quarter worth $336,000. Focus Partners Wealth grew its holdings in Parker-Hannifin by 120.2% in the fourth quarter. Focus Partners Wealth now owns 14,185 shares of the industrial products company’s stock worth $9,069,000 after purchasing an additional 7,742 shares during the last quarter. Finally, Eisler Capital Management Ltd. purchased a new position in Parker-Hannifin in the fourth quarter worth $14,237,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $672.31 on Friday. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market cap of $85.91 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.85 and a beta of 1.36. The firm’s fifty day moving average is $602.00 and its two-hundred day moving average is $646.70.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.51 earnings per share. Research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a $1.80 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is 27.72%.

Analyst Ratings Changes

Several research firms have issued reports on PH. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup cut their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday, April 14th. UBS Group lowered their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial lowered their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $710.12.

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.