Sciencast Management LP Takes Position in Parker-Hannifin Corp (PH)

Sciencast Management LP purchased a new stake in Parker-Hannifin Corp (NYSE:PH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,418 shares of the industrial products company’s stock, valued at approximately $1,832,000. Parker-Hannifin comprises approximately 0.9% of Sciencast Management LP’s portfolio, making the stock its largest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in PH. Teacher Retirement System of Texas lifted its stake in shares of Parker-Hannifin by 56.7% in the 4th quarter. Teacher Retirement System of Texas now owns 36,227 shares of the industrial products company’s stock valued at $7,230,000 after acquiring an additional 13,115 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Parker-Hannifin by 8.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 7,128 shares of the industrial products company’s stock valued at $1,422,000 after acquiring an additional 548 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Parker-Hannifin by 24.2% in the 4th quarter. Penserra Capital Management LLC now owns 2,930 shares of the industrial products company’s stock valued at $584,000 after acquiring an additional 570 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Parker-Hannifin by 3.2% in the 4th quarter. New Mexico Educational Retirement Board now owns 12,810 shares of the industrial products company’s stock valued at $2,557,000 after acquiring an additional 400 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Parker-Hannifin by 4.9% in the 4th quarter. Sei Investments Co. now owns 98,905 shares of the industrial products company’s stock valued at $19,740,000 after acquiring an additional 4,609 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

Shares of Parker-Hannifin opened at $173.72 on Thursday, MarketBeat reports. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.59 and a quick ratio of 1.09. Parker-Hannifin Corp has a 1-year low of $153.65 and a 1-year high of $212.80. The stock has a market cap of $23.20 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.76 and a beta of 1.42.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, April 26th. The industrial products company reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.18. Parker-Hannifin had a return on equity of 23.63% and a net margin of 7.16%. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the business posted $2.11 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. sell-side analysts forecast that Parker-Hannifin Corp will post 10.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Thursday, May 10th were issued a dividend of $0.76 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.66. This represents a $3.04 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 37.48%.

Several research analysts recently issued reports on PH shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Tuesday, May 29th. Buckingham Research lowered their target price on Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating for the company in a research report on Friday, April 27th. Citigroup lowered their target price on Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, April 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 target price on shares of Parker-Hannifin in a research report on Wednesday, March 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 target price (down from $232.00) on shares of Parker-Hannifin in a research report on Monday, April 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $200.40.

In other Parker-Hannifin news, VP Andrew M. Weeks sold 2,600 shares of the stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $169.36, for a total transaction of $440,336.00. Following the completion of the sale, the vice president now directly owns 6,160 shares in the company, valued at approximately $1,043,257.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert W. Malone sold 430 shares of the stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $165.12, for a total value of $71,001.60. Following the sale, the vice president now owns 14,816 shares of the company’s stock, valued at $2,446,417.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,578 shares of company stock valued at $2,564,440. Company insiders own 1.12% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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