Marks Group Wealth Management Inc Has $10.01 Million Stock Holdings in Parker-Hannifin Corporation $PH

Marks Group Wealth Management Inc lowered its stake in Parker-Hannifin Corporation (NYSE:PH) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,209 shares of the industrial products company’s stock after selling 883 shares during the quarter. Parker-Hannifin comprises approximately 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 23rd largest holding. Marks Group Wealth Management Inc’s holdings in Parker-Hannifin were worth $10,014,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PH. Vanguard Group Inc. boosted its holdings in Parker-Hannifin by 0.9% during the second quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after buying an additional 101,476 shares during the last quarter. Procyon Advisors LLC boosted its stake in Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares during the last quarter. Invesco Ltd. grew its holdings in Parker-Hannifin by 1.8% during the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock valued at $1,638,556,000 after purchasing an additional 41,221 shares during the period. Ameriprise Financial Inc. raised its holdings in Parker-Hannifin by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after purchasing an additional 92,913 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Parker-Hannifin by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock worth $1,449,496,000 after purchasing an additional 14,534 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value 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. This represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction on 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 transaction, the vice president directly owned 1,000 shares of the company’s stock, 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. Over the last three months, insiders have sold 12,551 shares of company stock worth $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Up 1.0%

Parker-Hannifin stock opened at $1,022.31 on Monday. 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 Corporation has a 1-year low of $488.45 and a 1-year high of $1,024.58. The company has a fifty day simple moving average of $933.20 and a 200 day simple moving average of $835.55. The company has a market cap of $129.04 billion, a P/E ratio of 37.28, a price-to-earnings-growth ratio of 3.29 and a beta of 1.25.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders 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 yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PH. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Susquehanna reaffirmed a “positive” rating and set a $1,000.00 price target on shares of Parker-Hannifin in a research report on Wednesday, November 12th. Argus reiterated a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research report on Monday, November 10th. JPMorgan Chase & Co. raised 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. Finally, BNP Paribas Exane began coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $990.47.

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.