Canada Post Corp Registered Pension Plan Raises Position in Parker-Hannifin Corporation $PH

Canada Post Corp Registered Pension Plan lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 28.5% during the third quarter, HoldingsChannel reports. The fund owned 2,720 shares of the industrial products company’s stock after acquiring an additional 603 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Parker-Hannifin were worth $2,050,000 as of its most recent filing with the Securities & Exchange Commission.

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

Parker-Hannifin Stock Performance

NYSE PH opened at $977.70 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $989.13. The business has a fifty day moving average of $908.41 and a 200-day moving average of $815.62. The stock has a market cap of $123.41 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 3.33 and a beta of 1.25.

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

Parker-Hannifin Dividend Announcement

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

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Susquehanna reissued a “positive” rating and set a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Barclays raised their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price 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. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 2,488 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $11,739,907.20. This trade represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 10,769 shares of company stock valued at $9,649,169. 0.32% of the stock is owned by corporate insiders.

About Parker-Hannifin

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.