Fisher Asset Management LLC Raises Stock Position in Parker-Hannifin Corporation $PH

Fisher Asset Management LLC raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,337 shares of the industrial products company’s stock after purchasing an additional 45,310 shares during the period. Fisher Asset Management LLC owned 0.43% of Parker-Hannifin worth $411,173,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ING Groep NV purchased a new position in Parker-Hannifin during the third quarter worth approximately $26,398,000. Quadrant Capital Group LLC increased its stake in Parker-Hannifin by 20.1% during the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after acquiring an additional 604 shares during the last quarter. Procyon Advisors LLC lifted its stake in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Wilkinson Global Asset Management LLC increased its position in shares of Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after purchasing an additional 10,653 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock valued at $120,294,000 after buying an additional 56,103 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the sale, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the transaction, the vice president directly owned 6,534 shares of the company’s stock, valued at $6,207,626.70. This trade represents a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PH has been the topic of several recent analyst reports. BNP Paribas Exane initiated coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price objective on the stock. iA Financial set a $1,032.00 price target on Parker-Hannifin in a research note on Thursday, January 29th. Stifel Nicolaus raised their price target on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Susquehanna reiterated a “positive” rating and issued a $1,000.00 price objective on shares of Parker-Hannifin in a report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,009.11 on Monday. The company has a fifty day moving average of $947.29 and a two-hundred day moving average of $845.17. 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 Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The company has a market capitalization of $127.37 billion, a PE ratio of 36.80, a P/E/G ratio of 3.25 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the company earned $6.53 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued 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 payout ratio is currently 26.26%.

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.