Parker-Hannifin Corporation $PH Stock Position Raised by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 17.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,105 shares of the industrial products company’s stock after acquiring an additional 4,428 shares during the period. Jones Financial Companies Lllp’s holdings in Parker-Hannifin were worth $22,606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chilton Capital Management LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $29,000. Interchange Capital Partners LLC acquired a new stake in Parker-Hannifin in the second quarter worth $31,000. Valley Wealth Managers Inc. acquired a new stake in Parker-Hannifin in the third quarter worth $36,000. State of Wyoming bought a new stake in Parker-Hannifin in the second quarter valued at $38,000. Finally, Financial Consulate Inc. acquired a new position in shares of Parker-Hannifin during the third quarter valued at $47,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PH shares. KeyCorp restated an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday. BNP Paribas Exane started coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 target price for the company. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Industrial Alliance Securities set a $1,032.00 price target on Parker-Hannifin in a report on Thursday, January 29th. Finally, Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Price Performance

NYSE PH opened at $963.94 on Wednesday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $972.80. The firm has a market capitalization of $121.67 billion, a PE ratio of 35.15, a P/E/G ratio of 3.25 and a beta of 1.25. The company’s 50 day simple moving average is $901.84 and its 200 day simple moving average is $810.94. 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 results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company posted $6.53 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin’s payout ratio is 26.26%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Rachid Bendali sold 1,437 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total value of $1,225,746.63. Following the completion of the sale, the vice president directly owned 2,714 shares of the company’s stock, valued at approximately $2,315,014.86. This represents a 34.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 3,507 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $864.58, for a total transaction of $3,032,082.06. Following the transaction, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,230,616.40. This trade represents a 57.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 7,432 shares of company stock worth $6,484,116. 0.32% of the stock is owned by corporate insiders.

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.