Exencial Wealth Advisors LLC purchased a new stake in Parker Hannifin (NYSE:PH) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,586 shares of the industrial products company’s stock, valued at approximately $3,179,000.
Several other hedge funds and other institutional investors have also bought and sold shares of PH. Tyers Asset Management LLC increased its holdings in Parker Hannifin by 27.8% during the 1st quarter. Tyers Asset Management LLC now owns 6,176 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 1,344 shares during the period. US Bancorp DE grew its stake in Parker Hannifin by 7.3% in the 1st quarter. US Bancorp DE now owns 65,959 shares of the industrial products company’s stock worth $11,281,000 after buying an additional 4,514 shares in the last quarter. Signaturefd LLC purchased a new position in Parker Hannifin in the 1st quarter worth approximately $128,000. Tiverton Asset Management LLC grew its stake in Parker Hannifin by 444.4% in the 1st quarter. Tiverton Asset Management LLC now owns 11,399 shares of the industrial products company’s stock worth $1,950,000 after buying an additional 9,305 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Parker Hannifin by 500.0% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 360,000 shares of the industrial products company’s stock worth $61,571,000 after buying an additional 300,000 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.
In related news, VP Robert W. Malone sold 430 shares of the company’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $165.12, for a total transaction of $71,001.60. Following the completion of the sale, the vice president now directly owns 14,816 shares in the company, valued at approximately $2,446,417.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Roger S. Sherrard sold 2,109 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $182.12, for a total transaction of $384,091.08. Following the sale, the vice president now owns 51,865 shares of the company’s stock, valued at $9,445,653.80. The disclosure for this sale can be found here. Insiders sold a total of 8,113 shares of company stock valued at $1,408,118 in the last ninety days. 1.12% of the stock is owned by corporate insiders.
Shares of Parker Hannifin opened at $176.87 on Thursday, Marketbeat Ratings reports. Parker Hannifin has a 52-week low of $176.17 and a 52-week high of $177.96. The firm has a market capitalization of $23.49 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.59 and a quick ratio of 1.09.
Parker Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. Parker Hannifin had a net margin of 7.16% and a return on equity of 23.63%. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the prior year, the company earned $2.11 EPS. The firm’s revenue was up 20.2% on a year-over-year basis. equities research analysts forecast that Parker Hannifin will post 10.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, May 10th will be paid a $0.76 dividend. This is a boost from Parker Hannifin’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.72%. Parker Hannifin’s dividend payout ratio is 37.48%.
A number of research firms have commented on PH. Zacks Investment Research cut shares of Parker Hannifin from a “buy” rating to a “hold” rating in a research note on Monday, March 19th. Robert W. Baird raised shares of Parker Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 price target for the company in a research note on Thursday, March 8th. Buckingham Research cut their price target on shares of Parker Hannifin from $210.00 to $195.00 and set a “hold” rating for the company in a research note on Friday, April 27th. JPMorgan Chase cut their price target on shares of Parker Hannifin from $210.00 to $199.00 and set an “overweight” rating for the company in a research note on Tuesday, April 10th. Finally, Citigroup cut their price target on shares of Parker Hannifin from $205.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $200.40.
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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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