SageView Advisory Group LLC Has $950,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

SageView Advisory Group LLC boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 31.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,989 shares of the industrial products company’s stock after purchasing an additional 479 shares during the period. SageView Advisory Group LLC’s holdings in Parker-Hannifin were worth $950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PH. Norges Bank acquired a new position in Parker-Hannifin during the 4th quarter valued at about $665,188,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Parker-Hannifin in the third quarter worth approximately $310,208,000. FMR LLC lifted its holdings in shares of Parker-Hannifin by 9.6% in the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Parker-Hannifin by 65,634.7% during the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after buying an additional 219,220 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Parker-Hannifin by 52.0% during the third quarter. Envestnet Asset Management Inc. now owns 506,406 shares of the industrial products company’s stock worth $197,255,000 after buying an additional 173,323 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Mizuho upped their price target on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Bank of America upped their price objective on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Evercore ISI lifted their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $560.20.

Parker-Hannifin Price Performance

NYSE:PH traded up $3.26 during trading hours on Friday, hitting $529.83. The stock had a trading volume of 644,009 shares, compared to its average volume of 717,101. The company has a 50 day simple moving average of $548.76 and a two-hundred day simple moving average of $500.77. The firm has a market capitalization of $68.10 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 2.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a one year low of $319.14 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $5.93 earnings per share. Research analysts forecast that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is 30.73%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.