Achmea Investment Management B.V. Takes $3.49 Million Position in Parker-Hannifin Co. (NYSE:PH)

Achmea Investment Management B.V. purchased a new stake in Parker-Hannifin Co. (NYSE:PHGet Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,297 shares of the industrial products company’s stock, valued at approximately $3,489,000.

A number of other institutional investors also recently modified their holdings of PH. Clark Capital Management Group Inc. acquired a new stake in shares of Parker-Hannifin in the first quarter valued at about $26,540,000. PFS Investments Inc. increased its position in shares of Parker-Hannifin by 16.5% in the first quarter. PFS Investments Inc. now owns 4,130 shares of the industrial products company’s stock valued at $1,172,000 after acquiring an additional 584 shares during the last quarter. Williams Jones Wealth Management LLC. increased its position in shares of Parker-Hannifin by 0.7% in the first quarter. Williams Jones Wealth Management LLC. now owns 21,948 shares of the industrial products company’s stock valued at $6,228,000 after acquiring an additional 146 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Parker-Hannifin by 44.3% in the first quarter. Proficio Capital Partners LLC now owns 1,700 shares of the industrial products company’s stock valued at $483,000 after acquiring an additional 522 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Parker-Hannifin by 1.7% in the first quarter. Ameritas Investment Partners Inc. now owns 9,634 shares of the industrial products company’s stock valued at $2,732,000 after acquiring an additional 161 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Andrew D. Ross sold 3,224 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $296.30, for a total transaction of $955,271.20. Following the completion of the sale, the vice president now directly owns 9,840 shares in the company, valued at $2,915,592. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PH. The Goldman Sachs Group lowered their target price on Parker-Hannifin from $346.00 to $287.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Barclays boosted their price target on Parker-Hannifin to $340.00 in a research report on Tuesday, August 9th. TheStreet downgraded Parker-Hannifin from a “b” rating to a “c+” rating in a research report on Thursday, August 4th. Stifel Nicolaus lowered their price target on Parker-Hannifin from $343.00 to $283.00 in a research report on Monday, July 18th. Finally, Mizuho boosted their price target on Parker-Hannifin from $245.00 to $300.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.00.

Parker-Hannifin Trading Up 1.5 %

Shares of PH stock opened at $278.99 on Monday. The company has a current ratio of 2.06, a quick ratio of 1.68 and a debt-to-equity ratio of 1.10. The stock has a market cap of $35.82 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.57. The stock has a 50 day simple moving average of $274.86 and a 200 day simple moving average of $273.28. Parker-Hannifin Co. has a 1 year low of $230.44 and a 1 year high of $340.00.

Parker-Hannifin (NYSE:PHGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.49. Parker-Hannifin had a return on equity of 27.81% and a net margin of 8.29%. The business had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the previous year, the company posted $4.38 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Co. will post 18.34 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were paid a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, August 26th. Parker-Hannifin’s payout ratio is presently 52.78%.

Parker-Hannifin Profile

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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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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