Caprock Group LLC Buys New Position in Parker-Hannifin Corporation $PH

Caprock Group LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,903 shares of the industrial products company’s stock, valued at approximately $2,964,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. ING Groep NV acquired a new position in Parker-Hannifin during the third quarter worth approximately $26,398,000. Quadrant Capital Group LLC boosted its holdings in shares of Parker-Hannifin by 20.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after purchasing an additional 604 shares during the last quarter. Procyon Advisors LLC grew its stake in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares during the period. Wilkinson Global Asset Management LLC increased its holdings in shares of Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after buying an additional 10,653 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth $733,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 1.4%

Shares of NYSE PH opened at $981.92 on Friday. 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 Corporation has a 1 year low of $488.45 and a 1 year high of $1,012.49. The stock’s 50-day simple moving average is $918.20 and its 200-day simple moving average is $822.11. The firm has a market cap of $123.94 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 3.21 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the firm earned $6.53 EPS. Parker-Hannifin’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. iA Financial set a $1,032.00 target price on Parker-Hannifin in a report on Thursday, January 29th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Citigroup lifted their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $990.47.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 2,488 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $11,739,907.20. This trade represents a 15.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at $949,940. The trade was a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,825 shares of company stock valued at $5,391,341. 0.32% of the stock is owned by insiders.

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.