Mirabella Financial Services LLP Sells 4,590 Shares of Parker-Hannifin Corporation $PH

Mirabella Financial Services LLP lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 60.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,054 shares of the industrial products company’s stock after selling 4,590 shares during the period. Mirabella Financial Services LLP’s holdings in Parker-Hannifin were worth $2,311,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. ING Groep NV bought a new stake in Parker-Hannifin during the 3rd quarter worth approximately $26,398,000. Quadrant Capital Group LLC boosted its holdings in Parker-Hannifin by 20.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after purchasing an additional 604 shares during the period. Procyon Advisors LLC grew its position 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 valued at $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Wilkinson Global Asset Management LLC grew its position in shares of Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after purchasing an additional 10,653 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 56,103 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PH shares. Jefferies Financial Group raised their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. JPMorgan Chase & Co. raised their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Finally, Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $995.37.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at $13,106,880. This represents a 26.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 10,063 shares of company stock valued at $9,891,214. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $912.92 on Thursday. 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 stock has a market cap of $115.23 billion, a PE ratio of 33.29, a PEG ratio of 2.88 and a beta of 1.23. The company’s fifty day moving average is $958.70 and its 200 day moving average is $861.60. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results 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%. During the same quarter last year, the business earned $6.53 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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