Ferguson Wellman Capital Management Inc. Has $110.48 Million Stock Position in Parker-Hannifin Corporation $PH

Ferguson Wellman Capital Management Inc. grew its position in Parker-Hannifin Corporation (NYSE:PH) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 125,694 shares of the industrial products company’s stock after acquiring an additional 786 shares during the quarter. Parker-Hannifin makes up about 1.8% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Parker-Hannifin were worth $110,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SeaCrest Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 1.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,875 shares of the industrial products company’s stock valued at $1,703,000 after buying an additional 23 shares during the last quarter. Corundum Group Inc. acquired a new position in Parker-Hannifin in the fourth quarter worth approximately $612,000. Czech National Bank increased its holdings in Parker-Hannifin by 2.5% in the fourth quarter. Czech National Bank now owns 33,274 shares of the industrial products company’s stock worth $29,247,000 after buying an additional 821 shares during the last quarter. Optivise Advisory Services LLC raised its position in Parker-Hannifin by 42.3% during the fourth quarter. Optivise Advisory Services LLC now owns 821 shares of the industrial products company’s stock valued at $721,000 after acquiring an additional 244 shares in the last quarter. Finally, Lee Johnson Capital Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $544,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the 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 sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Citigroup lifted their price objective on shares of 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. JPMorgan Chase & Co. upped their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Trading Down 0.5%

Shares of PH stock opened at $920.42 on Thursday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,034.96. The company has a market cap of $116.18 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. 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 business’s 50 day moving average is $956.92 and its two-hundred day moving average is $866.99.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $6.53 earnings per share. Equities analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

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

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.