First Hawaiian Bank Reduces Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

First Hawaiian Bank cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,179 shares of the industrial products company’s stock after selling 404 shares during the period. First Hawaiian Bank’s holdings in Parker-Hannifin were worth $2,658,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank lifted its stake in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC lifted its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin during the third quarter worth $39,000. 82.44% of the stock is owned by institutional investors and hedge funds.

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 Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,077 shares of company stock valued at $12,303,829. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PH shares. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp lifted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Mizuho upped their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Price Performance

PH stock opened at $640.76 on Thursday. The company has a market cap of $82.48 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $673.26 and a two-hundred day moving average price of $612.30. Parker-Hannifin Co. has a 12-month low of $449.89 and a 12-month high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the business earned $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s payout ratio is 29.45%.

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.