Parker-Hannifin Corporation $PH Position Boosted by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 9.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 542,337 shares of the industrial products company’s stock after buying an additional 45,310 shares during the period. Fisher Asset Management LLC’s holdings in Parker-Hannifin were worth $411,173,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ING Groep NV bought a new stake in Parker-Hannifin in the third quarter worth about $26,398,000. Quadrant Capital Group LLC lifted its position 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 worth $2,521,000 after buying an additional 604 shares in the last quarter. Procyon Advisors LLC boosted 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 valued at $3,843,346,000 after buying an additional 5,066,179 shares during the period. Wilkinson Global Asset Management LLC grew its holdings 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 acquiring an additional 10,653 shares in the last quarter. Finally, Citigroup Inc. increased its stake 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 acquiring an additional 56,103 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,664 shares of the 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,551 shares of company stock worth $12,117,502. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $1,009.11 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The company has a 50-day moving average of $947.29 and a 200-day moving average of $845.17. The company has a market capitalization of $127.37 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 3.25 and a beta of 1.25. 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 issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.53 EPS. As a group, equities research analysts anticipate 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. Investors 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 yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Analyst Ratings Changes

A number of analysts recently issued reports on PH shares. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Susquehanna reiterated a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a report on Wednesday, November 12th. Morgan Stanley upped their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Stifel Nicolaus boosted their price objective 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 upped their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $995.37.

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.