Prospera Financial Services Inc Has $1.82 Million Holdings in Parker-Hannifin Corporation $PH

Prospera Financial Services Inc decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 45.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,395 shares of the industrial products company’s stock after selling 1,966 shares during the quarter. Prospera Financial Services Inc’s holdings in Parker-Hannifin were worth $1,820,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its stake in shares of Parker-Hannifin by 1.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,305 shares of the industrial products company’s stock valued at $4,780,000 after purchasing an additional 69 shares in the last quarter. Western Wealth Management LLC increased its position in shares of Parker-Hannifin by 2.1% during the 3rd quarter. Western Wealth Management LLC now owns 3,303 shares of the industrial products company’s stock worth $2,504,000 after purchasing an additional 68 shares in the last quarter. REAP Financial Group LLC lifted its holdings in Parker-Hannifin by 5.8% during the 3rd quarter. REAP Financial Group LLC now owns 292 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 16 shares during the last quarter. Lantz Financial LLC acquired a new position in Parker-Hannifin in the third quarter valued at about $566,000. Finally, AdvisorShares Investments LLC boosted its position in Parker-Hannifin by 2,028.6% in the third quarter. AdvisorShares Investments LLC now owns 745 shares of the industrial products company’s stock valued at $565,000 after buying an additional 710 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 1.9%

Shares of PH opened at $1,001.30 on Friday. The firm has a market capitalization of $126.38 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The business’s fifty day moving average price is $920.62 and its two-hundred day moving average price is $823.93. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,012.49.

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

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling

In other news, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on PH shares. BNP Paribas Exane started coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective for the company. Jefferies Financial Group increased their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Mizuho lifted their price objective on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, Citigroup raised their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

About Parker-Hannifin

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.