SG Americas Securities LLC Purchases 6,630 Shares of Parker-Hannifin Co. (NYSE:PH)

SG Americas Securities LLC grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 27.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,011 shares of the industrial products company’s stock after acquiring an additional 6,630 shares during the period. SG Americas Securities LLC’s holdings in Parker-Hannifin were worth $18,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PH. Norges Bank bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,106,132,000. GAMMA Investing LLC raised its stake in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after acquiring an additional 1,139,265 shares during the last quarter. Royal Bank of Canada raised its stake in Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after buying an additional 1,137,564 shares in the last quarter. Finally, Capital World Investors bought a new position in Parker-Hannifin in the fourth quarter worth about $418,174,000. 82.44% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $671.18 on Wednesday. The stock has a market cap of $85.76 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm’s 50-day simple moving average is $619.99 and its two-hundred day simple moving average is $644.99.

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

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin’s dividend payout ratio is presently 27.72%.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. Truist Financial decreased their price target 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. Barclays decreased their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Citigroup decreased their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a “hold” rating in a research note on Monday, June 2nd. Finally, Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research note on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $719.71.

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.