PFG Investments LLC Grows Position in Parker-Hannifin Corporation $PH

PFG Investments LLC lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 57.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,088 shares of the industrial products company’s stock after purchasing an additional 758 shares during the quarter. PFG Investments LLC’s holdings in Parker-Hannifin were worth $1,835,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Procyon Advisors LLC boosted its holdings in Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Bank of America Corp DE increased its holdings in Parker-Hannifin by 0.6% in the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock valued at $2,960,266,000 after buying an additional 22,706 shares in the last quarter. Capital World Investors increased its holdings in Parker-Hannifin by 7.0% in the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after buying an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after acquiring an additional 13,309 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Parker-Hannifin by 0.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 817,094 shares of the industrial products company’s stock worth $619,480,000 after acquiring an additional 4,454 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 0.9%

PH stock opened at $955.43 on Friday. Parker-Hannifin Corporation has a 52 week low of $538.08 and a 52 week high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $953.87 and a 200-day simple moving average of $885.89. The stock has a market capitalization of $120.59 billion, a P/E ratio of 34.84, a P/E/G ratio of 3.10 and a beta of 1.25.

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%. During the same period last year, the firm posted $6.53 EPS. Parker-Hannifin’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given 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 26.26%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on 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. Wells Fargo & Company reduced their price target on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. iA Financial set a $1,032.00 price target on Parker-Hannifin in a research report on Thursday, January 29th. Morgan Stanley raised their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Finally, BMO Capital Markets started coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an “outperform” rating and a $1,090.00 target price for the company. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $1,000.60.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was 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 approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following 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. Over the last three months, insiders sold 10,063 shares of company stock valued at $9,891,214. Insiders own 0.32% of the company’s stock.

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.