DNB Asset Management AS Lowers Stock Holdings in Parker-Hannifin Corporation $PH

DNB Asset Management AS reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,265 shares of the industrial products company’s stock after selling 7,014 shares during the period. DNB Asset Management AS’s holdings in Parker-Hannifin were worth $36,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new position in Parker-Hannifin during the 3rd quarter worth $29,000. Valley Wealth Managers Inc. purchased a new position in shares of Parker-Hannifin during the third quarter valued at $36,000. State of Wyoming bought a new stake in shares of Parker-Hannifin in the second quarter valued at about $38,000. Sagard Holdings Management Inc. bought a new stake in shares of Parker-Hannifin in the second quarter valued at about $46,000. Finally, Financial Consulate Inc. purchased a new stake in Parker-Hannifin in the third quarter worth about $47,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Stifel Nicolaus raised their target price 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. JPMorgan Chase & Co. lifted their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Citigroup upped their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, BNP Paribas Exane initiated coverage on Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective for the company. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $995.37.

Insider Transactions at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction dated 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 completion of the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is owned by company insiders.

Parker-Hannifin Stock Up 0.3%

NYSE:PH opened at $1,014.95 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a market cap of $128.11 billion, a PE ratio of 37.01, a P/E/G ratio of 3.26 and a beta of 1.25. The company’s 50 day moving average is $944.58 and its two-hundred day moving average is $842.02.

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

Parker-Hannifin Dividend Announcement

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