Parker-Hannifin Corporation $PH Shares Purchased by Shell Asset Management Co.

Shell Asset Management Co. raised its holdings in Parker-Hannifin Corporation (NYSE:PH) by 104.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,094 shares of the industrial products company’s stock after purchasing an additional 1,068 shares during the quarter. Shell Asset Management Co.’s holdings in Parker-Hannifin were worth $1,588,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $29,000. Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $36,000. State of Wyoming purchased a new stake in shares of Parker-Hannifin during the second quarter worth approximately $38,000. Princeton Global Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 56.1% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 23 shares during the period. Finally, Sagard Holdings Management Inc. purchased a new position in Parker-Hannifin in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In related news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president directly owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,551 shares of company stock worth $12,117,502 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PH shares. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. BNP Paribas Exane started coverage on Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target for the company. Citigroup upped their price objective on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Barclays raised their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Argus restated a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research report on Monday, November 10th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Trading Up 1.9%

Shares of PH stock opened at $1,001.30 on Monday. The stock has a market cap of $126.38 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.23 and a beta of 1.25. 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 Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,012.49. The business has a fifty day simple moving average of $920.62 and a 200-day simple moving average of $825.21.

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

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

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.