Dimensional Fund Advisors LP Decreases Position in Parker-Hannifin Corporation $PH

Dimensional Fund Advisors LP lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.8% during the third quarter, Holdings Channel reports. The fund owned 595,211 shares of the industrial products company’s stock after selling 50,667 shares during the period. Dimensional Fund Advisors LP’s holdings in Parker-Hannifin were worth $451,220,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Procyon Advisors LLC grew its stake in Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Norges Bank acquired a new position in shares of Parker-Hannifin during the second quarter worth about $1,352,509,000. Canada Pension Plan Investment Board increased its stake in shares of Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after buying an additional 197,317 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Parker-Hannifin by 9.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $103,284,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.2%

NYSE:PH opened at $986.90 on Thursday. The stock’s 50 day moving average price is $953.78 and its 200 day moving average price is $849.82. The company has a market capitalization of $124.57 billion, a PE ratio of 35.99, a P/E/G ratio of 3.18 and a beta of 1.23. 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 $488.45 and a 52-week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $6.53 earnings per share. On average, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Insider Buying and Selling

In other news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,551 shares of company stock valued at $12,117,502 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. JPMorgan Chase & Co. raised their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Barclays lifted their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

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.