Y.D. More Investments Ltd Purchases New Position in Parker-Hannifin Corporation $PH

Y.D. More Investments Ltd acquired a new position in Parker-Hannifin Corporation (NYSE:PH) during the 4th quarter, HoldingsChannel reports. The fund acquired 4,323 shares of the industrial products company’s stock, valued at approximately $3,800,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin during the third quarter worth $29,000. Ameriflex Group Inc. grew its position in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares during the period. Morse Asset Management Inc increased its holdings in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after buying an additional 28 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in Parker-Hannifin in the third quarter valued at $36,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a research note on Thursday, January 29th. JPMorgan Chase & Co. upped their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Morgan Stanley increased their price target on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Finally, KeyCorp restated an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $996.60.

Parker-Hannifin Stock Up 0.0%

PH stock opened at $908.32 on Monday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96. 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 firm has a 50-day simple moving average of $951.11 and a 200-day simple moving average of $874.62. The stock has a market capitalization of $114.65 billion, a P/E ratio of 33.13, a P/E/G ratio of 2.92 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 earnings per share (EPS) for the quarter, topping 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%.During the same period in the previous year, the business posted $6.53 EPS. The company’s revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a dividend of $1.80 per share. 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 payout ratio is presently 26.26%.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 1,457 shares of the 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 completion of the sale, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,063 shares of company stock worth $9,891,214 in the last quarter. 0.32% of the stock is owned by insiders.

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.