7,172 Shares in Parker-Hannifin Corporation $PH Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP acquired a new stake in Parker-Hannifin Corporation (NYSE:PH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,172 shares of the industrial products company’s stock, valued at approximately $5,437,000.

Several other hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at $29,000. Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $36,000. State of Wyoming purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at approximately $38,000. Sagard Holdings Management Inc. bought a new position in Parker-Hannifin in the 2nd quarter worth approximately $46,000. Finally, Financial Consulate Inc. bought a new position in Parker-Hannifin in the 3rd quarter worth approximately $47,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $1,014.95 on Friday. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The firm’s fifty day moving average price is $944.58 and its 200-day moving average price is $842.02. The stock has a market cap of $128.10 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 3.26 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.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating 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 business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the firm earned $6.53 earnings per share. The firm’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 fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given 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 dividend payout ratio (DPR) is presently 26.26%.

Insider Activity

In other news, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were 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 directly owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares in the company, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 12,551 shares of company stock valued at $12,117,502. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. iA Financial set a $1,032.00 price target on Parker-Hannifin in a report on Thursday, January 29th. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Finally, Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $995.37.

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.