Parker-Hannifin Corporation $PH Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC raised its stake in Parker-Hannifin Corporation (NYSE:PH) by 8.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,951 shares of the industrial products company’s stock after buying an additional 649 shares during the period. Parallel Advisors LLC’s holdings in Parker-Hannifin were worth $6,028,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PH. Chilton Capital Management LLC purchased a new position in Parker-Hannifin in the 3rd quarter valued at approximately $29,000. Ameriflex Group Inc. grew its holdings in Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Parker-Hannifin in the third quarter valued at $36,000. State of Wyoming purchased a new position in shares of Parker-Hannifin in the second quarter valued at $38,000. Finally, Sagard Holdings Management Inc. acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. Barclays increased their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Susquehanna reaffirmed a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a report on Wednesday, November 12th. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. KeyCorp restated an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, Jefferies Financial Group upped their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $923.01 on Monday. The stock has a market capitalization of $116.50 billion, a P/E ratio of 33.66, a P/E/G ratio of 2.97 and a beta of 1.23. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The firm’s 50-day moving average is $956.00 and its two-hundred day moving average is $853.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (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 business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the firm posted $6.53 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a dividend of $1.80 per share. The ex-dividend date was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

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.