Parker-Hannifin Corporation $PH Holdings Raised by Guardian Capital LP

Guardian Capital LP raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,746 shares of the industrial products company’s stock after buying an additional 823 shares during the period. Guardian Capital LP’s holdings in Parker-Hannifin were worth $11,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Procyon Advisors LLC boosted its position in Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Norges Bank acquired a new position in Parker-Hannifin in the 2nd quarter worth about $1,352,509,000. Canada Pension Plan Investment Board increased its position in Parker-Hannifin by 115.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after purchasing an additional 197,317 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Parker-Hannifin by 9.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after purchasing an additional 136,359 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $103,284,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction 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 $13,106,880. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,551 shares of company stock worth $12,117,502 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Down 4.4%

Shares of PH stock opened at $923.01 on Friday. The stock’s 50 day simple moving average is $956.00 and its 200 day simple moving average is $851.92. 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 twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a market capitalization of $116.50 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 3.11 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share 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%.The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the company earned $6.53 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued 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 of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup boosted their price target 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. Morgan Stanley raised their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Barclays lifted their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Finally, iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research note on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently 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.