HUB Investment Partners LLC Has $4.39 Million Stock Position in Parker-Hannifin Corporation $PH

HUB Investment Partners LLC lessened its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 23.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,786 shares of the industrial products company’s stock after selling 1,772 shares during the quarter. HUB Investment Partners LLC’s holdings in Parker-Hannifin were worth $4,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the period. Bison Wealth LLC increased its stake in Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares during the period. Empowered Funds LLC raised its position in Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 166 shares during the period. Finally, Sivia Capital Partners LLC boosted its holdings in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of PH stock opened at $923.01 on Friday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96. The stock has a market capitalization of $116.50 billion, a PE ratio of 33.66, a PEG ratio of 3.11 and a beta of 1.23. 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 stock’s fifty day moving average is $956.00 and its 200-day moving average is $851.92.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results 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. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.53 EPS. Equities research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Activity

In other news, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. BNP Paribas Exane began coverage on Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 target price for the company. 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. JPMorgan Chase & Co. upped their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Argus reiterated a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research report on Monday, November 10th. Finally, Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $995.37.

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.