Parker-Hannifin Corporation $PH Shares Bought by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 59.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,147 shares of the industrial products company’s stock after acquiring an additional 802 shares during the period. Smartleaf Asset Management LLC’s holdings in Parker-Hannifin were worth $1,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PH. Fidelis Capital Partners LLC lifted its position in Parker-Hannifin by 1.3% in the second quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after purchasing an additional 14 shares during the period. High Net Worth Advisory Group LLC raised its stake in shares of Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after buying an additional 14 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares during the period. Empowered Funds LLC boosted its stake in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after buying an additional 15 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC grew its holdings in Parker-Hannifin by 3.6% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other news, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,769 shares of company stock valued at $9,649,169. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PH shares. Stifel Nicolaus raised their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Morgan Stanley restated a “positive” rating on shares of Parker-Hannifin in a report on Wednesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Trading Up 1.0%

Shares of NYSE PH opened at $977.70 on Monday. The business has a 50 day simple moving average of $908.41 and a 200 day simple moving average of $816.23. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $989.13. The stock has a market cap of $123.41 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 3.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $6.53 earnings per share. On average, research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Parker-Hannifin 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.