Strive Asset Management LLC Purchases New Stake in Parker-Hannifin Corporation $PH

Strive Asset Management LLC acquired a new position in Parker-Hannifin Corporation (NYSE:PH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the industrial products company’s stock, valued at approximately $15,163,000. Parker-Hannifin accounts for approximately 0.5% of Strive Asset Management LLC’s investment portfolio, making the stock its 18th biggest position.

Other large investors also recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $29,000. Valley Wealth Managers Inc. acquired a new position in Parker-Hannifin in the third quarter valued at approximately $36,000. State of Wyoming bought a new position in Parker-Hannifin in the second quarter valued at approximately $38,000. Sagard Holdings Management Inc. bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at $46,000. Finally, Financial Consulate Inc. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $47,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

NYSE PH opened at $1,010.77 on Tuesday. 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 stock has a market cap of $127.58 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 3.25 and a beta of 1.23. The business has a 50 day simple moving average of $949.77 and a 200 day simple moving average of $847.04. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96.

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. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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 other news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the sale, the vice president directly owned 1,000 shares in the company, valued at $949,940. The trade was a 36.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin 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 value of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This represents a 9.09% 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 Upgrades and Downgrades

A number of equities research analysts recently commented on PH shares. Jefferies Financial Group lifted their price objective on 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. Wells Fargo & Company boosted their target price on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Citigroup increased their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin 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.