NEOS Investment Management LLC Has $17.65 Million Stock Holdings in Parker-Hannifin Corporation $PH

NEOS Investment Management LLC lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 25.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,280 shares of the industrial products company’s stock after acquiring an additional 4,786 shares during the quarter. NEOS Investment Management LLC’s holdings in Parker-Hannifin were worth $17,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Glenview Trust Co increased its position in Parker-Hannifin by 6.1% during the 3rd quarter. Glenview Trust Co now owns 3,399 shares of the industrial products company’s stock valued at $2,577,000 after purchasing an additional 194 shares during the period. Summitry LLC boosted its stake in shares of Parker-Hannifin by 10.9% in the 3rd quarter. Summitry LLC now owns 367 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 36 shares during the last quarter. Zions Bancorporation National Association UT increased its position in shares of Parker-Hannifin by 2.8% during the third quarter. Zions Bancorporation National Association UT now owns 1,714 shares of the industrial products company’s stock worth $1,299,000 after buying an additional 47 shares during the period. Pallas Capital Advisors LLC raised its stake in Parker-Hannifin by 0.7% during the third quarter. Pallas Capital Advisors LLC now owns 10,744 shares of the industrial products company’s stock worth $8,145,000 after buying an additional 72 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Parker-Hannifin by 4.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 44,672 shares of the industrial products company’s stock worth $33,868,000 after buying an additional 2,007 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,664 shares of the business’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 value of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at $13,106,880. The trade was a 26.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the company’s 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 completion of the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PH. BNP Paribas Exane initiated coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target on the stock. Barclays upped their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Argus reaffirmed a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research note on Monday, November 10th. Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Citigroup increased their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Price Performance

PH stock opened at $1,010.01 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The business has a 50-day simple moving average of $926.01 and a two-hundred day simple moving average of $829.20. The company has a market capitalization of $127.48 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,014.66.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share 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%.The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company earned $6.53 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is currently 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.