Tema Etfs LLC Decreases Stake in Parker-Hannifin Corporation $PH

Tema Etfs LLC lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,413 shares of the industrial products company’s stock after selling 692 shares during the period. Tema Etfs LLC’s holdings in Parker-Hannifin were worth $10,032,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ING Groep NV purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $26,398,000. Procyon Advisors LLC boosted its holdings in Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Citigroup Inc. boosted its holdings in Parker-Hannifin by 54.7% during the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after buying an additional 56,103 shares in the last quarter. Wilkinson Global Asset Management LLC grew its position in Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after buying an additional 10,653 shares during the period. Finally, Advisors Capital Management LLC grew its position in Parker-Hannifin by 140.0% during the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after buying an additional 1,302 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 3.0%

Shares of NYSE PH opened at $921.85 on Thursday. The firm’s 50-day moving average is $952.11 and its two-hundred day moving average is $871.56. The company has a market capitalization of $116.36 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the previous year, the business posted $6.53 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Barclays upped their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Jefferies Financial Group raised their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Morgan Stanley boosted their target price on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $996.60.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares in the company, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,063 shares of company stock valued at $9,891,214. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.