MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Parker-Hannifin Corporation $PH

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Parker-Hannifin Corporation (NYSE:PH) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 433,600 shares of the industrial products company’s stock after buying an additional 5,388 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Parker-Hannifin were worth $328,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PH. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the third quarter worth about $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $29,000. Ameriflex Group Inc. increased its holdings in Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $36,000. Finally, Johnson Financial Group Inc. boosted its stake in shares of Parker-Hannifin by 84.6% during the 3rd 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 during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were 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 of the company’s stock, valued at $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

PH has been the subject of a number of recent analyst reports. Citigroup lifted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of 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. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Barclays boosted their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Stock Performance

PH stock opened at $893.09 on Tuesday. The stock’s 50 day simple moving average is $959.35 and its 200 day simple moving average is $860.30. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. The firm has a market cap of $112.73 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.87 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping 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%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the company posted $6.53 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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 $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is 26.26%.

Parker-Hannifin Company 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.