Lansforsakringar Fondforvaltning AB publ Has $35.78 Million Stake in Parker-Hannifin Corporation $PH

Lansforsakringar Fondforvaltning AB publ raised its position in Parker-Hannifin Corporation (NYSE:PH) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,191 shares of the industrial products company’s stock after acquiring an additional 2,200 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Parker-Hannifin were worth $35,778,000 at the end of the most recent reporting period.

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

Parker-Hannifin Stock Performance

NYSE PH opened at $1,022.31 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. The company has a market capitalization of $129.04 billion, a P/E ratio of 37.28, a P/E/G ratio of 3.29 and a beta of 1.25. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,024.58. The firm has a 50-day moving average price of $933.20 and a two-hundred day moving average price of $834.58.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors 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 annualized dividend and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Insider Transactions at Parker-Hannifin

In other news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,551 shares of company stock worth $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. KeyCorp reissued an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a report on Thursday, January 29th. Morgan Stanley restated a “positive” rating on shares of Parker-Hannifin in a research note on Wednesday, January 14th. Finally, 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 research note on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $990.47.

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.