Bessemer Group Inc. Boosts Stock Holdings in Parker-Hannifin Corporation $PH

Bessemer Group Inc. grew its position in Parker-Hannifin Corporation (NYSE:PH) by 15.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,756 shares of the industrial products company’s stock after buying an additional 779 shares during the quarter. Bessemer Group Inc.’s holdings in Parker-Hannifin were worth $4,363,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S raised its stake in Parker-Hannifin by 0.6% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,951 shares of the industrial products company’s stock valued at $9,061,000 after purchasing an additional 72 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Parker-Hannifin by 30.6% during the third quarter. SBI Securities Co. Ltd. now owns 145 shares of the industrial products company’s stock worth $110,000 after buying an additional 34 shares in the last quarter. Optimize Financial Inc raised its position in shares of Parker-Hannifin by 20.5% in the third quarter. Optimize Financial Inc now owns 417 shares of the industrial products company’s stock valued at $316,000 after buying an additional 71 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Parker-Hannifin by 0.4% in the third quarter. Savant Capital LLC now owns 5,569 shares of the industrial products company’s stock worth $4,222,000 after buying an additional 24 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in Parker-Hannifin by 1.3% during the third quarter. J.W. Cole Advisors Inc. now owns 5,112 shares of the industrial products company’s stock worth $3,876,000 after acquiring an additional 64 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a report on Thursday, January 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Mizuho raised their target price on Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at $11,739,907.20. This represents a 15.94% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,769 shares of company stock worth $9,649,169. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of PH opened at $977.70 on Friday. The firm has a 50-day simple moving average of $908.41 and a two-hundred day simple moving average of $815.62. The stock has a market cap of $123.41 billion, a PE ratio of 35.66, a P/E/G ratio of 3.33 and a beta of 1.25. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $989.13. 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 (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, topping analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $6.53 EPS. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio is presently 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.