CIBC Bancorp USA Inc. Takes $13.37 Million Position in Parker-Hannifin Corporation $PH

CIBC Bancorp USA Inc. purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,629 shares of the industrial products company’s stock, valued at approximately $13,365,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter worth $29,000. Ameriflex Group Inc. grew its stake in shares of Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the period. Morse Asset Management Inc grew its stake in shares of Parker-Hannifin by 164.7% during the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. bought a new stake in Parker-Hannifin in the third quarter valued at about $36,000. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, CFO Todd M. Leombruno sold 2,062 shares of the company’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 value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction 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 completion of the sale, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,063 shares of company stock worth $9,891,214 in the last three months. 0.32% of the stock is owned by insiders.

Parker-Hannifin Trading Down 1.4%

NYSE PH opened at $899.19 on Friday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock’s 50 day moving average price is $958.55 and its two-hundred day moving average price is $861.86. The stock has a market capitalization of $113.50 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 2.94 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating 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 firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $6.53 EPS. As a group, 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. Stockholders of record on Friday, February 6th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research report on Thursday, January 29th. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $995.37.

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.