Syon Capital LLC Has $1.60 Million Stock Position in Parker-Hannifin Corporation $PH

Syon Capital LLC raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 34.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,110 shares of the industrial products company’s stock after purchasing an additional 544 shares during the period. Syon Capital LLC’s holdings in Parker-Hannifin were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Chilton Capital Management LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $29,000. Valley Wealth Managers Inc. acquired a new stake in shares of Parker-Hannifin during the third quarter worth $36,000. State of Wyoming acquired a new stake in shares of Parker-Hannifin during the second quarter worth $38,000. Sagard Holdings Management Inc. bought a new stake in Parker-Hannifin in the second quarter valued at about $46,000. Finally, Financial Consulate Inc. acquired a new position in Parker-Hannifin in the third quarter valued at about $47,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.3%

PH opened at $996.64 on Thursday. The stock has a market capitalization of $125.80 billion, a P/E ratio of 36.35, a P/E/G ratio of 3.25 and a beta of 1.25. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,015.00. The firm’s fifty day simple moving average is $928.16 and its 200 day simple moving average is $830.38. 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 earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) 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 return on equity of 27.56% and a net margin of 17.29%.The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.53 EPS. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio is 26.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PH shares. BNP Paribas Exane started coverage on Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 target price for the company. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Susquehanna reaffirmed a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Morgan Stanley reiterated a “positive” rating on shares of Parker-Hannifin in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Insider Activity at Parker-Hannifin

In related 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 completion of the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was 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 trade represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is currently owned by corporate insiders.

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.