Benchmark Investment Advisors LLC Purchases Shares of 1,237 Parker-Hannifin Corporation $PH

Benchmark Investment Advisors LLC acquired a new position in Parker-Hannifin Corporation (NYSE:PH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,237 shares of the industrial products company’s stock, valued at approximately $938,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. FORA Capital LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth approximately $717,000. Jump Financial LLC boosted its position in shares of Parker-Hannifin by 596.0% in the third quarter. Jump Financial LLC now owns 2,951 shares of the industrial products company’s stock worth $2,237,000 after purchasing an additional 2,527 shares during the period. Eisler Capital Management Ltd. bought a new position in shares of Parker-Hannifin in the third quarter worth approximately $267,000. Certuity LLC increased its stake in shares of Parker-Hannifin by 93.9% in the third quarter. Certuity LLC now owns 1,280 shares of the industrial products company’s stock worth $971,000 after purchasing an additional 620 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its position in shares of Parker-Hannifin by 84.6% during the 3rd quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. BNP Paribas Exane began coverage on Parker-Hannifin in a report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target on the stock. Jefferies Financial Group upped their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their target price on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Stock Down 1.3%

Shares of NYSE PH opened at $890.28 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 12-month low of $488.45 and a 12-month high of $1,034.96. The firm’s 50-day moving average price is $959.64 and its 200-day moving average price is $858.10. The stock has a market capitalization of $112.37 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.91 and a beta of 1.23.

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, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the firm posted $6.53 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a $1.80 dividend. The ex-dividend date was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the transaction, the vice president directly owned 6,534 shares in the company, 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. Insiders sold 10,063 shares of company stock valued at $9,891,214 over the last three months. Corporate insiders own 0.32% of the company’s stock.

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.