Parker-Hannifin Corporation $PH Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 817,094 shares of the industrial products company’s stock after purchasing an additional 4,454 shares during the period. Envestnet Asset Management Inc. owned 0.65% of Parker-Hannifin worth $619,480,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PH. Fidelis Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after purchasing an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC raised its stake in shares of Parker-Hannifin by 0.3% during the third quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after purchasing an additional 14 shares during the period. Sivia Capital Partners LLC increased its stake in Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares during the period. Empowered Funds LLC increased its position in shares of Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after acquiring an additional 15 shares during the last quarter. Finally, Bingham Private Wealth LLC increased its holdings in Parker-Hannifin by 3.3% during the 2nd quarter. Bingham Private Wealth LLC now owns 472 shares of the industrial products company’s stock worth $330,000 after purchasing an additional 15 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the subject of several research analyst reports. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday. Industrial Alliance Securities set a $1,032.00 price objective on Parker-Hannifin in a research report on Thursday, January 29th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday. Stifel Nicolaus raised their target price on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday. Finally, Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Stock Up 1.3%

Shares of NYSE:PH opened at $963.94 on Wednesday. The firm has a 50 day simple moving average of $901.84 and a 200 day simple moving average of $810.94. The company has a market cap of $121.67 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 3.25 and a beta of 1.25. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $972.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

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, beating 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%.The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the company posted $6.53 earnings per share. Parker-Hannifin’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s payout ratio is presently 26.26%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at $11,739,907.20. This represents a 15.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rachid Bendali sold 1,437 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the transaction, the vice president owned 2,714 shares in the company, valued at approximately $2,315,014.86. This represents a 34.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 7,432 shares of company stock worth $6,484,116. 0.32% of the stock is currently owned by company 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.