Tower Research Capital LLC TRC Raises Position in Parker-Hannifin Corp (PH)

Tower Research Capital LLC TRC boosted its holdings in Parker-Hannifin Corp (NYSE:PH) by 1,237.1% during the fourth quarter, Holdings Channel reports. The fund owned 2,019 shares of the industrial products company’s stock after acquiring an additional 1,868 shares during the period. Tower Research Capital LLC TRC’s holdings in Parker-Hannifin were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PH. San Francisco Sentry Investment Group CA grew its stake in Parker-Hannifin by 139.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 337 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $168,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $197,000. Tiedemann Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 95.6% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 3,050 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $202,000. 78.42% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have issued reports on PH. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research note on Thursday, January 18th. Wells Fargo & Co raised their price target on shares of Parker-Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Buckingham Research reaffirmed a “neutral” rating and set a $210.00 price target on shares of Parker-Hannifin in a research note on Friday, January 19th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and set a $245.00 price target (up from $218.00) on shares of Parker-Hannifin in a research note on Tuesday, January 16th. Finally, Cowen reaffirmed a “hold” rating and set a $180.00 price target on shares of Parker-Hannifin in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $202.06.

In other news, Director Joseph Scaminace sold 1,000 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $184.97, for a total transaction of $184,970.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Andrew D. Ross sold 2,056 shares of Parker-Hannifin stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $192.14, for a total transaction of $395,039.84. Following the sale, the vice president now owns 5,207 shares in the company, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Parker-Hannifin Corp (PH) opened at $183.92 on Friday. Parker-Hannifin Corp has a 1-year low of $151.17 and a 1-year high of $212.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 0.99. The company has a market cap of $24,121.69, a P/E ratio of 28.69, a P/E/G ratio of 1.57 and a beta of 1.31.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.08. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm posted $1.91 earnings per share. Parker-Hannifin’s revenue for the quarter was up 26.2% compared to the same quarter last year. equities analysts expect that Parker-Hannifin Corp will post 9.95 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a $0.66 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.64 annualized dividend and a yield of 1.44%. Parker-Hannifin’s payout ratio is 41.19%.

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Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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