Alps Advisors Inc. Increases Holdings in Parker-Hannifin Corporation $PH

Alps Advisors Inc. lifted its position in Parker-Hannifin Corporation (NYSE:PH) by 432.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,121 shares of the industrial products company’s stock after buying an additional 2,535 shares during the period. Alps Advisors Inc.’s holdings in Parker-Hannifin were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PH. Chilton Capital Management LLC bought a new position in Parker-Hannifin in the third quarter valued at about $29,000. Interchange Capital Partners LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $36,000. State of Wyoming bought a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $38,000. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of Parker-Hannifin by 56.1% in the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after buying an additional 23 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 2,488 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $11,739,907.20. The trade was a 15.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction on 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 5,825 shares of company stock worth $5,391,341. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PH has been the topic of several recent research reports. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Mizuho boosted their price target on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, 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. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Price Performance

NYSE:PH opened at $989.98 on Wednesday. The business’s 50-day simple moving average is $913.47 and its two-hundred day simple moving average is $819.76. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $992.08. The stock has a market cap of $124.96 billion, a PE ratio of 36.10, a P/E/G ratio of 3.15 and a beta of 1.25. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 27.56% and a net margin of 17.29%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $6.53 earnings per share. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

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.