Capital International Inc. CA Raises Stock Position in Parker-Hannifin Corporation $PH

Capital International Inc. CA lifted its position in Parker-Hannifin Corporation (NYSE:PH) by 58.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,119 shares of the industrial products company’s stock after purchasing an additional 10,037 shares during the period. Capital International Inc. CA’s holdings in Parker-Hannifin were worth $20,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PH. Vanguard Group Inc. raised its position in Parker-Hannifin by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock valued at $7,770,646,000 after purchasing an additional 101,476 shares in the last quarter. Procyon Advisors LLC grew its position in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Invesco Ltd. grew its position in shares of Parker-Hannifin by 1.8% during the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after buying an additional 41,221 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Parker-Hannifin by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock valued at $1,533,177,000 after buying an additional 92,913 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Parker-Hannifin by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock valued at $1,449,496,000 after buying an additional 14,534 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PH. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Citigroup increased 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. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Insider Transactions at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 564 shares of the 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 transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s 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 of the company’s stock, valued at $13,106,880. This represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is owned by company insiders.

Parker-Hannifin Trading Up 1.9%

NYSE:PH opened at $949.78 on Wednesday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,034.96. The firm has a fifty day simple moving average of $958.04 and a 200-day simple moving average of $856.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $119.88 billion, a P/E ratio of 34.64, a PEG ratio of 3.00 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the firm earned $6.53 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

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.