CIBC Private Wealth Group LLC Has $143.33 Million Stock Holdings in Parker-Hannifin Corporation $PH

CIBC Private Wealth Group LLC trimmed its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,055 shares of the industrial products company’s stock after selling 2,579 shares during the period. CIBC Private Wealth Group LLC owned about 0.15% of Parker-Hannifin worth $143,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Berkshire Asset Management LLC PA boosted its holdings in Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after purchasing an additional 13 shares in the last quarter. Bridgewater Advisors Inc. increased its position in Parker-Hannifin by 2.3% during the third 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. High Net Worth Advisory Group LLC raised its holdings in Parker-Hannifin by 0.3% during the third 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 raised its holdings in Parker-Hannifin by 2.0% during the third quarter. Asset Dedication LLC now owns 702 shares of the industrial products company’s stock valued at $532,000 after buying an additional 14 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Parker-Hannifin by 0.8% in the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PH. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. KeyCorp reissued an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Insiders Place Their Bets

In related news, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction dated 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 sale, the vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the business’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 transaction, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last quarter. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Trading Down 0.2%

Shares of PH stock opened at $892.88 on Wednesday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The firm’s fifty day simple moving average is $958.62 and its 200 day simple moving average is $861.24. The firm has a market capitalization of $112.70 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 2.88 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company’s 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 earnings per share. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a $1.80 dividend. 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 (DPR) is presently 26.26%.

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.