Holocene Advisors LP Sells 196,862 Shares of Parker-Hannifin Corporation $PH

Holocene Advisors LP lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 59.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,988 shares of the industrial products company’s stock after selling 196,862 shares during the quarter. Holocene Advisors LP owned 0.11% of Parker-Hannifin worth $103,857,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PH. Vanguard Group Inc. boosted its stake in Parker-Hannifin by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after purchasing an additional 101,476 shares during the period. Procyon Advisors LLC raised its stake in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the period. Bank of America Corp DE lifted its holdings in shares of Parker-Hannifin by 0.6% in the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock valued at $2,960,266,000 after purchasing an additional 22,706 shares in the last quarter. Capital World Investors lifted its holdings in shares of Parker-Hannifin by 7.0% in the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after purchasing an additional 169,073 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Parker-Hannifin by 1.8% during the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after buying an additional 41,221 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.3%

PH stock opened at $890.28 on Monday. The company has a market cap of $112.37 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.87 and a beta of 1.23. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The business has a 50 day moving average price of $959.64 and a two-hundred day moving average price of $859.42. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,063 shares of company stock worth $9,891,214 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PH. Citigroup lifted their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group upped their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $995.37.

Parker-Hannifin Company 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.