Parker-Hannifin Corporation $PH Stake Lifted by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,904,591 shares of the industrial products company’s stock after acquiring an additional 22,706 shares during the quarter. Bank of America Corp DE’s holdings in Parker-Hannifin were worth $2,960,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin during the 3rd quarter valued at $25,000. Chilton Capital Management LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth $29,000. Ameriflex Group Inc. raised its stake 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 buying an additional 33 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Parker-Hannifin in the third quarter valued at $36,000. Finally, Johnson Financial Group Inc. boosted its stake in Parker-Hannifin by 84.6% during the third quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock valued at $36,000 after buying an additional 22 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,063 shares of company stock valued at $9,891,214 over the last three months. 0.32% of the stock is owned by insiders.

Parker-Hannifin Trading Down 1.3%

Shares of NYSE PH opened at $890.28 on Friday. 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 12 month low of $488.45 and a 12 month high of $1,034.96. The company has a market cap of $112.37 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.87 and a beta of 1.23. The business has a fifty day simple moving average of $959.64 and a 200-day simple moving average of $858.78.

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, topping analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $6.53 EPS. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current 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 of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Barclays upped their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Citigroup lifted their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $995.37.

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.