Glenmede Investment Management LP Sells 960 Shares of Parker-Hannifin Corporation $PH

Glenmede Investment Management LP decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,587 shares of the industrial products company’s stock after selling 960 shares during the quarter. Glenmede Investment Management LP owned about 0.10% of Parker-Hannifin worth $93,697,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Procyon Advisors LLC boosted its stake in Parker-Hannifin by 158,565.9% in 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 purchasing an additional 5,066,179 shares during the period. Norges Bank bought a new position in Parker-Hannifin during the 2nd quarter worth $1,352,509,000. Canada Pension Plan Investment Board lifted its holdings in shares of Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after buying an additional 197,317 shares in the last quarter. Capital World Investors lifted its holdings in shares of Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after buying an additional 169,073 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Parker-Hannifin by 9.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PH. Citigroup upped 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 note on Friday, January 30th. Barclays boosted their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Morgan Stanley raised their target price on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Finally, BNP Paribas Exane assumed coverage on Parker-Hannifin in a research note on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target for the company. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Price Performance

PH stock opened at $890.28 on Friday. The company’s 50-day moving average price is $959.64 and its two-hundred day moving average price is $858.10. The firm has a market cap of $112.37 billion, a P/E ratio of 32.47, a P/E/G ratio of 2.91 and a beta of 1.23. 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 Corporation has a 12 month low of $488.45 and a 12 month high of $1,034.96.

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

Parker-Hannifin Dividend Announcement

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

Insider Transactions at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the firm’s 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 completion of the sale, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by insiders.

About Parker-Hannifin

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.