Mackenzie Financial Corp Sells 22,299 Shares of Parker-Hannifin Corporation $PH

Mackenzie Financial Corp reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 8.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 238,607 shares of the industrial products company’s stock after selling 22,299 shares during the quarter. Mackenzie Financial Corp owned 0.19% of Parker-Hannifin worth $180,900,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PH. Berkshire Asset Management LLC PA lifted its stake in Parker-Hannifin by 1.1% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after acquiring an additional 13 shares during the period. Bridgewater Advisors Inc. grew its position in shares of Parker-Hannifin by 2.3% during the third quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 13 shares in the last quarter. Fidelis Capital Partners LLC raised its position in shares of Parker-Hannifin by 1.3% during the second quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after buying an additional 14 shares during the last quarter. High Net Worth Advisory Group LLC lifted its stake in Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 14 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Parker-Hannifin by 0.8% in the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. BNP Paribas Exane assumed coverage on Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target for the company. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Citigroup lifted their price objective on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $995.37.

Parker-Hannifin Trading Up 1.9%

Shares of PH stock opened at $949.78 on Wednesday. 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 company has a market cap of $119.88 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 3.00 and a beta of 1.23. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The stock has a 50 day simple moving average of $958.04 and a 200-day simple moving average of $856.23.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the firm posted $6.53 EPS. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at $949,940. This represents a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 12,551 shares of company stock worth $12,117,502. Corporate insiders own 0.32% of the company’s stock.

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.