34,819 Shares in Parker-Hannifin Corporation $PH Acquired by ING Groep NV

ING Groep NV bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 34,819 shares of the industrial products company’s stock, valued at approximately $26,398,000.

A number of other hedge funds also recently modified their holdings of the business. Chilton Capital Management LLC acquired a new position in Parker-Hannifin during the third quarter valued at $29,000. Interchange Capital Partners LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Parker-Hannifin in the third quarter worth approximately $36,000. State of Wyoming acquired a new stake in shares of Parker-Hannifin during the second quarter worth approximately $38,000. Finally, Financial Consulate Inc. acquired a new stake in shares of Parker-Hannifin during the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In related news, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This trade represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,825 shares of company stock valued at $5,391,341 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PH. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $989.98 on Wednesday. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $992.08. The business has a 50-day moving average of $913.47 and a two-hundred day moving average of $819.76. The stock has a market capitalization of $124.96 billion, a P/E ratio of 36.10, a P/E/G ratio of 3.15 and a beta of 1.25. 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 (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS 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 business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the firm posted $6.53 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s payout ratio is presently 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.