Clark Capital Management Group Inc. Sells 23,585 Shares of Parker-Hannifin Corporation $PH

Clark Capital Management Group Inc. lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 181,699 shares of the industrial products company’s stock after selling 23,585 shares during the quarter. Parker-Hannifin accounts for approximately 0.9% of Clark Capital Management Group Inc.’s investment portfolio, making the stock its 20th biggest position. Clark Capital Management Group Inc.’s holdings in Parker-Hannifin were worth $137,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin in the third quarter valued at about $29,000. Ameriflex Group Inc. grew its position in Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 33 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Parker-Hannifin during the third quarter worth about $36,000. Finally, Johnson Financial Group Inc. raised its stake in Parker-Hannifin by 84.6% during the third quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 22 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $890.28 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The firm has a market cap of $112.37 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 2.87 and a beta of 1.23. The company’s fifty day simple moving average is $959.64 and its 200 day simple moving average is $858.78. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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 firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the business posted $6.53 EPS. The business’s 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 year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PH shares. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Citigroup upped their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. BNP Paribas Exane started coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. This represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is owned by insiders.

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.