BTC Capital Management Inc. Reduces Holdings in Parker-Hannifin Corporation $PH

BTC Capital Management Inc. decreased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,221 shares of the industrial products company’s stock after selling 591 shares during the period. BTC Capital Management Inc.’s holdings in Parker-Hannifin were worth $7,238,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $29,000. Ameriflex Group Inc. lifted 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 valued at $32,000 after buying an additional 33 shares during the period. Morse Asset Management Inc boosted its position in 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 acquiring an additional 28 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in Parker-Hannifin during the third quarter worth approximately $36,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,063 shares of company stock worth $9,891,214 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PH. BNP Paribas Exane initiated coverage on Parker-Hannifin in a report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective on the stock. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a research report on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. KeyCorp restated an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Seventeen investment 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 stock has an average rating of “Moderate Buy” and an average price target of $1,000.10.

Parker-Hannifin Stock Up 3.7%

Shares of Parker-Hannifin stock opened at $893.69 on Wednesday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The stock has a market cap of $112.80 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $952.57 and a 200 day moving average price of $871.21.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating 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%.During the same period last year, the firm earned $6.53 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued 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 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.