Dara Capital US Inc. Makes New Investment in Parker-Hannifin Corporation $PH

Dara Capital US Inc. acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 741 shares of the industrial products company’s stock, valued at approximately $651,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. JFS Wealth Advisors LLC lifted its stake in shares of Parker-Hannifin by 6.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 11 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock worth $573,000 after purchasing an additional 12 shares in the last quarter. Altfest L J & Co. Inc. lifted its stake in shares of Parker-Hannifin by 4.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 286 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 12 shares in the last quarter. Berkshire Asset Management LLC PA lifted its stake in shares of Parker-Hannifin by 1.1% during the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after purchasing an additional 13 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its stake in shares of Parker-Hannifin by 2.3% during the third quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.1%

Shares of NYSE PH opened at $983.95 on Friday. Parker-Hannifin Corporation has a 1 year low of $538.08 and a 1 year high of $1,034.96. The firm has a market cap of $124.19 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 3.17 and a beta of 1.25. 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 simple moving average is $953.02 and its 200-day simple moving average is $880.56.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $6.53 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday. Morgan Stanley boosted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, Wells Fargo & Company dropped their target price on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $998.35.

Insider Transactions at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the sale, the chief operating officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.32% of the company’s stock.

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.