Great West Life Assurance Co. Can raised its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 87.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 158,829 shares of the industrial products company’s stock after purchasing an additional 74,060 shares during the period. Great West Life Assurance Co. Can’s holdings in Parker-Hannifin were worth $27,188,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its holdings in Parker-Hannifin by 11.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 537 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 55 shares during the period. First Mercantile Trust Co. grew its holdings in Parker-Hannifin by 58.3% during the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 70 shares during the period. LS Investment Advisors LLC grew its holdings in Parker-Hannifin by 1.6% during the first quarter. LS Investment Advisors LLC now owns 4,703 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 74 shares during the period. JOYN Advisors Inc. grew its holdings in Parker-Hannifin by 42.9% during the fourth quarter. JOYN Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 75 shares during the period. Finally, CNB Bank grew its holdings in Parker-Hannifin by 39.3% during the fourth quarter. CNB Bank now owns 273 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 77 shares during the period. 79.49% of the stock is owned by institutional investors and hedge funds.

Shares of Parker-Hannifin stock opened at $158.30 on Friday. Parker-Hannifin Corp has a 52 week low of $140.82 and a 52 week high of $193.19. The stock has a market capitalization of $20.31 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.16. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 earnings per share. On average, equities research analysts anticipate that Parker-Hannifin Corp will post 11.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a $0.88 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.76. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 33.78%.

Several analysts have issued reports on the company. Citigroup boosted their price target on Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Morgan Stanley set a $179.00 price objective on Parker-Hannifin and gave the company a “hold” rating in a research report on Friday, May 3rd. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $171.00 to $182.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Barclays boosted their price objective on Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Finally, Robert W. Baird set a $180.00 price objective on Parker-Hannifin and gave the company a “buy” rating in a research report on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $182.35.

In related news, VP Andrew M. Weeks sold 4,520 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $176.70, for a total value of $798,684.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Roger S. Sherrard sold 2,040 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $171.80, for a total value of $350,472.00. Following the completion of the sale, the vice president now owns 62,620 shares in the company, valued at $10,758,116. The disclosure for this sale can be found here. Insiders sold 7,344 shares of company stock worth $1,288,355 over the last quarter. 1.12% of the stock is owned by company insiders.

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Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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

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