Ameritas Advisory Services LLC Trims Stake in Parker-Hannifin Corporation $PH

Ameritas Advisory Services LLC reduced its holdings in Parker-Hannifin Corporation (NYSE:PH) by 86.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213 shares of the industrial products company’s stock after selling 1,329 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Parker-Hannifin were worth $162,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Procyon Advisors LLC lifted its position in Parker-Hannifin by 158,565.9% during the third 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 last quarter. Norges Bank bought a new position in shares of Parker-Hannifin in the 2nd quarter worth $1,352,509,000. Canada Pension Plan Investment Board raised its position in shares of Parker-Hannifin by 115.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock valued at $256,970,000 after buying an additional 197,317 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Parker-Hannifin by 9.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after acquiring an additional 136,359 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. purchased a new position in Parker-Hannifin in the third quarter worth $103,284,000. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction on 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 sale, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares of the company’s stock, valued at $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,551 shares of company stock worth $12,117,502 over the last three months. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. KeyCorp reissued an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Jefferies Financial Group upped their target price on 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Finally, Morgan Stanley restated a “positive” rating on shares of Parker-Hannifin in a report on Wednesday, January 14th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Stock Up 0.8%

Shares of NYSE PH opened at $1,010.01 on Wednesday. The firm’s fifty day moving average is $926.01 and its 200 day moving average is $829.20. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,014.66. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $127.48 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 3.23 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results 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. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the firm earned $6.53 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s payout ratio is currently 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.