Parker-Hannifin Corporation $PH Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,317 shares of the industrial products company’s stock after selling 9,308 shares during the quarter. Korea Investment CORP owned about 0.07% of Parker-Hannifin worth $66,958,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PH. Berkshire Asset Management LLC PA boosted its holdings in Parker-Hannifin by 1.1% in 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 last quarter. Bridgewater Advisors Inc. increased its holdings 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 worth $473,000 after buying an additional 13 shares during the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after buying an additional 14 shares during the last quarter. High Net Worth Advisory Group LLC raised its position 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 during the period. Finally, Valeo Financial Advisors LLC raised its position in shares of Parker-Hannifin by 0.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,280,000 after buying an additional 15 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 4.4%

Shares of NYSE PH opened at $923.01 on Monday. The stock has a market cap of $116.50 billion, a P/E ratio of 33.66, a PEG ratio of 2.97 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. The business’s fifty day simple moving average is $956.00 and its 200-day simple moving average is $853.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $6.53 EPS. Parker-Hannifin’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts predict 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. Stockholders of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is currently 26.26%.

Analyst Upgrades and Downgrades

PH has been the subject of several analyst reports. Argus reiterated a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research report on Monday, November 10th. Wells Fargo & Company lifted their target price on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. BNP Paribas Exane started coverage on Parker-Hannifin in a research note on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target on the stock. Morgan Stanley increased their price target on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Finally, Barclays raised their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” 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 stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction that occurred 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 directly owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is currently owned by company insiders.

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.