Cornerstone Planning Group LLC Boosts Stock Position in Parker-Hannifin Corporation $PH

Cornerstone Planning Group LLC lifted its stake in Parker-Hannifin Corporation (NYSE:PH) by 13,556.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,784 shares of the industrial products company’s stock after purchasing an additional 7,727 shares during the quarter. Parker-Hannifin comprises about 0.7% of Cornerstone Planning Group LLC’s holdings, making the stock its 21st largest holding. Cornerstone Planning Group LLC’s holdings in Parker-Hannifin were worth $5,901,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Procyon Advisors LLC raised its holdings in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares during the period. Norges Bank acquired a new stake in Parker-Hannifin during the second quarter worth about $1,352,509,000. Canada Pension Plan Investment Board raised its stake in Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after purchasing an additional 197,317 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Parker-Hannifin by 9.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after purchasing an additional 136,359 shares during the period. Finally, Lazard Freres Gestion S.A.S. acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $103,284,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.7%

Shares of NYSE PH opened at $952.03 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $120.14 billion, a PE ratio of 34.72, a PEG ratio of 3.22 and a beta of 1.25. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $965.00. The stock has a fifty day simple moving average of $899.60 and a 200-day simple moving average of $809.24.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business posted $6.53 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is 26.26%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 3,507 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $864.58, for a total value of $3,032,082.06. Following the completion of the transaction, the vice president owned 2,580 shares in the company, valued at $2,230,616.40. The trade was a 57.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $11,739,907.20. The trade was a 15.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,432 shares of company stock valued at $6,484,116 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PH. Barclays lifted their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley restated a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Wells Fargo & Company upped their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday. BNP Paribas Exane initiated coverage on Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective for the company. Finally, Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin Company 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.