Mirabella Financial Services LLP Sells 4,590 Shares of Parker-Hannifin Corporation $PH

Mirabella Financial Services LLP trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 60.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,054 shares of the industrial products company’s stock after selling 4,590 shares during the quarter. Mirabella Financial Services LLP’s holdings in Parker-Hannifin were worth $2,311,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin in the third quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $29,000. Ameriflex Group Inc. raised its position 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 valued at $32,000 after acquiring an additional 33 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $36,000. Finally, Johnson Financial Group Inc. boosted its position in shares of Parker-Hannifin by 84.6% in the 3rd quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 22 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.4%

Shares of Parker-Hannifin stock opened at $893.09 on Tuesday. The company has a market capitalization of $112.73 billion, a P/E ratio of 32.57, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The business has a 50-day moving average of $959.35 and a two-hundred day moving average of $860.30. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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 return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the previous year, the business posted $6.53 EPS. Parker-Hannifin’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a $1.80 dividend. 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%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PH shares. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a report on Friday, January 30th. JPMorgan Chase & Co. upped their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $995.37.

Insider Activity at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the 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 sale, the vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,063 shares of company stock valued at $9,891,214 over the last three months. Insiders own 0.32% of the company’s stock.

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.