Parker-Hannifin Corporation $PH Stock Holdings Lessened by HUB Investment Partners LLC

HUB Investment Partners LLC reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 23.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,786 shares of the industrial products company’s stock after selling 1,772 shares during the quarter. HUB Investment Partners LLC’s holdings in Parker-Hannifin were worth $4,387,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Vanguard Group Inc. grew its holdings in shares of Parker-Hannifin by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock valued at $7,770,646,000 after acquiring an additional 101,476 shares in the last quarter. Procyon Advisors LLC grew its stake in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Invesco Ltd. increased its position in Parker-Hannifin by 1.8% in the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after purchasing an additional 41,221 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Parker-Hannifin by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after purchasing an additional 92,913 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Parker-Hannifin by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock valued at $1,449,496,000 after buying an additional 14,534 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. KeyCorp restated an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Susquehanna reiterated a “positive” rating and issued a $1,000.00 price objective on shares of Parker-Hannifin in a report on Wednesday, November 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Finally, Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a research note on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Stock Down 4.4%

Parker-Hannifin stock opened at $923.01 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The firm has a fifty day moving average price of $956.00 and a two-hundred day moving average price of $851.92. The firm has a market cap of $116.50 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 3.11 and a beta of 1.23.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a dividend of $1.80 per share. The ex-dividend date was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is 26.26%.

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.