Inspire Investing LLC Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Inspire Investing LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,790 shares of the industrial products company’s stock after selling 151 shares during the quarter. Parker-Hannifin accounts for about 0.8% of Inspire Investing LLC’s portfolio, making the stock its 12th largest position. Inspire Investing LLC’s holdings in Parker-Hannifin were worth $7,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. State Street Corp increased its holdings in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares during the last quarter. FMR LLC boosted its stake in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after acquiring an additional 272,531 shares in the last quarter. Geode Capital Management LLC boosted its stake in Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after acquiring an additional 29,408 shares in the last quarter. Wellington Management Group LLP boosted its stake in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after acquiring an additional 59,432 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PH has been the subject of several recent research reports. KeyCorp increased their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Barclays increased their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Truist Financial boosted their price objective 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. Stifel Nicolaus downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a research note on Monday, November 18th. Finally, TD Cowen upped their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Trading Down 0.6 %

NYSE PH opened at $674.15 on Thursday. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $712.42. The company has a 50-day moving average of $669.12 and a 200-day moving average of $622.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a market cap of $86.78 billion, a P/E ratio of 30.45, a P/E/G ratio of 2.78 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.96 EPS. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

About Parker-Hannifin

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.