Lighthouse Investment Partners LLC Purchases 3,000 Shares of Parker-Hannifin Co. (NYSE:PH)

Lighthouse Investment Partners LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the industrial products company’s stock after acquiring an additional 3,000 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Parker-Hannifin were worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings in shares of Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares during the period. FFT Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC boosted its holdings in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the period. First Manhattan CO. LLC. boosted its holdings in shares of Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares during the period. Finally, Grove Bank & Trust boosted its holdings in shares of Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PH shares. KeyCorp lifted their target price on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Citigroup dropped their price objective on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $710.12.

Parker-Hannifin Price Performance

Shares of PH stock opened at $668.41 on Tuesday. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The stock has a market capitalization of $85.41 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.85 and a beta of 1.36. The stock has a fifty day simple moving average of $598.95 and a two-hundred day simple moving average of $645.94. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $6.51 EPS. On average, analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.08%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin’s payout ratio is presently 27.72%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.