Diversified Management Inc. Takes Position in Parker-Hannifin Corporation $PH

Diversified Management Inc. purchased a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,632 shares of the industrial products company’s stock, valued at approximately $1,434,000.

Other hedge funds have also made changes to their positions in the company. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $29,000. Ameriflex Group Inc. lifted its holdings in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 33 shares during the last quarter. Morse Asset Management Inc lifted its holdings in shares of Parker-Hannifin by 164.7% in the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 28 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on 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 directly owned 2,580 shares in the company, valued at $2,441,918.40. This trade represents a 36.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin 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 transaction, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,063 shares of company stock worth $9,891,214. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of several recent analyst reports. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Jefferies Financial Group upped 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 report on Friday, January 30th. Finally, Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $1,000.60.

Parker-Hannifin Trading Down 2.1%

NYSE PH opened at $964.59 on Thursday. 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 52 week low of $538.08 and a 52 week high of $1,034.96. The stock has a market capitalization of $121.75 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The firm has a 50 day moving average of $954.11 and a two-hundred day moving average of $885.40.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.53 earnings per share. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued 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 was Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Parker-Hannifin 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.