Parker-Hannifin Corporation $PH Shares Bought by Advisors Capital Management LLC

Advisors Capital Management LLC grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 140.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,232 shares of the industrial products company’s stock after acquiring an additional 1,302 shares during the quarter. Advisors Capital Management LLC’s holdings in Parker-Hannifin were worth $1,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC raised its position in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after buying an additional 32 shares during the period. Empowered Funds LLC lifted its holdings in Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after acquiring an additional 15 shares during the last quarter. Acadian Asset Management LLC grew its position in Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 166 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $1,012.08 on Friday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,015.00. The firm has a market capitalization of $127.74 billion, a P/E ratio of 36.91, a P/E/G ratio of 3.21 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company’s fifty day moving average price is $930.45 and its 200 day moving average price is $831.64.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates 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 for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $6.53 earnings per share. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared 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. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Insider Transactions at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the firm’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 transaction of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PH. Barclays upped their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a research report on Thursday, January 29th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Citigroup upped their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, BNP Paribas Exane started coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price for the company. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

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.