Vestmark Advisory Solutions Inc. Acquires 533 Shares of Parker-Hannifin Corporation $PH

Vestmark Advisory Solutions Inc. boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,475 shares of the industrial products company’s stock after acquiring an additional 533 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Parker-Hannifin were worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Procyon Advisors LLC raised its position in shares of Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the period. Norges Bank bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $1,352,509,000. Canada Pension Plan Investment Board grew its stake in Parker-Hannifin by 115.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock valued at $256,970,000 after buying an additional 197,317 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Parker-Hannifin by 9.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares during the period. Finally, Lazard Freres Gestion S.A.S. acquired a new stake in Parker-Hannifin during the third quarter worth approximately $103,284,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PH. Morgan Stanley reaffirmed a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Barclays upped their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Citigroup boosted their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Argus reaffirmed a “buy” rating and set a $900.00 price target on shares of Parker-Hannifin in a research report on Monday, November 10th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Insider Activity

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,551 shares of company stock valued at $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 1.4%

PH stock opened at $1,008.15 on Tuesday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,024.58. The business has a 50-day simple moving average of $935.69 and a 200 day simple moving average of $837.54. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $127.25 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.29 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the firm earned $6.53 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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.