New Age Alpha Advisors LLC Has $5.31 Million Holdings in Parker-Hannifin Corporation $PH

New Age Alpha Advisors LLC decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 12.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,003 shares of the industrial products company’s stock after selling 977 shares during the period. New Age Alpha Advisors LLC’s holdings in Parker-Hannifin were worth $5,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PH. Berkshire Asset Management LLC PA boosted its stake in Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after acquiring an additional 13 shares during the last quarter. Bridgewater Advisors Inc. raised its position in shares of Parker-Hannifin by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 13 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after purchasing an additional 14 shares during the period. High Net Worth Advisory Group LLC boosted its position in shares of Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 14 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in shares of Parker-Hannifin by 0.8% during the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after purchasing an additional 15 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,009.11 on Monday. 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 Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96. The company’s 50 day moving average price is $947.29 and its two-hundred day moving average price is $845.17. The company has a market capitalization of $127.37 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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 net margin of 17.29% and a return on equity of 27.56%. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the company earned $6.53 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be issued 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 is 26.26%.

Insider Transactions at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The stock was 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 directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PH has been the topic of several analyst reports. Argus reissued a “buy” rating and issued a $900.00 target price on shares of Parker-Hannifin in a research note on Monday, November 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, Citigroup increased their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” 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’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target 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.