Wilmington Savings Fund Society FSB Sells 2,150 Shares of Parker-Hannifin Corporation $PH

Wilmington Savings Fund Society FSB reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 31.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,619 shares of the industrial products company’s stock after selling 2,150 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Parker-Hannifin were worth $3,502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Berkshire Asset Management LLC PA grew its stake in shares of 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 purchasing an additional 13 shares during the period. Bridgewater Advisors Inc. raised its position in shares of Parker-Hannifin by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 13 shares during the period. High Net Worth Advisory Group LLC lifted its stake in shares of Parker-Hannifin by 0.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after buying an additional 14 shares in the last quarter. Asset Dedication LLC boosted its holdings in Parker-Hannifin by 2.0% in the 3rd quarter. Asset Dedication LLC now owns 702 shares of the industrial products company’s stock worth $532,000 after buying an additional 14 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in Parker-Hannifin by 0.8% during the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,280,000 after acquiring an additional 15 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PH shares. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research note on Thursday, January 29th. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Citigroup lifted their price objective 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. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Finally, Jefferies Financial Group raised their target price on shares of 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 research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Insider Transactions at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated 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 in the company, valued at $949,940. The trade was a 36.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,063 shares of company stock worth $9,891,214 in the last quarter. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $912.92 on Thursday. 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 Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The business has a 50 day simple moving average of $958.70 and a two-hundred day simple moving average of $861.60. The stock has a market capitalization of $115.23 billion, a PE ratio of 33.29, a P/E/G ratio of 2.88 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 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%.During the same quarter in the prior year, the company posted $6.53 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend 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.