Parker-Hannifin Corporation $PH Shares Acquired by Rathbones Group PLC

Rathbones Group PLC lifted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 32.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,345 shares of the industrial products company’s stock after buying an additional 28,085 shares during the period. Rathbones Group PLC’s holdings in Parker-Hannifin were worth $85,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin in the 3rd quarter valued at $29,000. Ameriflex Group Inc. raised its holdings in shares of Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 33 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $36,000. State of Wyoming acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $38,000. Finally, Sagard Holdings Management Inc. purchased a new stake in shares of Parker-Hannifin in the second quarter valued at about $46,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $923.01 on Friday. The firm has a market capitalization of $116.50 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 2.97 and a beta of 1.23. The firm’s fifty day simple moving average is $956.00 and its 200-day simple moving average is $852.67. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is 26.26%.

Analyst Ratings Changes

PH has been the topic of a number of analyst reports. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, Barclays lifted their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Insider Activity

In other news, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Profile

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.