Lee Johnson Capital Management LLC Makes New $544,000 Investment in Parker-Hannifin Corporation $PH

Lee Johnson Capital Management LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 619 shares of the industrial products company’s stock, valued at approximately $544,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the third quarter worth about $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the third quarter valued at approximately $29,000. Ameriflex Group Inc. lifted its position in shares of Parker-Hannifin by 366.7% during the 3rd 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. Morse Asset Management Inc raised its position in shares of Parker-Hannifin by 164.7% during the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Parker-Hannifin in the third quarter worth approximately $36,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at approximately $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. Insiders sold 10,063 shares of company stock worth $9,891,214 over the last three months. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $923.62 on Wednesday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. 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 firm’s 50 day moving average is $957.23 and its 200-day moving average is $866.61. The firm has a market capitalization of $116.58 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.92 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating 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%.Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $6.53 EPS. Sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PH. Morgan Stanley raised their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Wells Fargo & Company lifted their price objective on 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. Jefferies Financial Group boosted their price objective on 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. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a report on Friday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Company 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.