Alphinity Investment Management Pty Ltd Lowers Stock Position in Parker-Hannifin Corporation $PH

Alphinity Investment Management Pty Ltd decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 22.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 561,945 shares of the industrial products company’s stock after selling 161,777 shares during the quarter. Parker-Hannifin comprises 4.2% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 13th largest holding. Alphinity Investment Management Pty Ltd owned 0.44% of Parker-Hannifin worth $426,039,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its holdings in Parker-Hannifin by 20.1% during the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after acquiring an additional 604 shares during the period. Procyon Advisors LLC boosted its position in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Wilkinson Global Asset Management LLC grew its stake in shares of Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after purchasing an additional 10,653 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $733,000. Finally, Pacific Heights Asset Management LLC boosted its holdings in Parker-Hannifin by 3.2% during the third quarter. Pacific Heights Asset Management LLC now owns 65,000 shares of the industrial products company’s stock worth $49,280,000 after buying an additional 2,000 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 2,488 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $11,739,907.20. The trade was a 15.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Berend Bracht sold 3,507 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total value of $3,032,082.06. Following the sale, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,230,616.40. The trade was a 57.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,769 shares of company stock worth $9,649,169. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Stifel Nicolaus upped their target price on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a report on Friday, January 30th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Argus reissued a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin Stock Performance

Shares of PH opened at $977.70 on Friday. The company has a market capitalization of $123.41 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 3.33 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. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $989.13. The company’s 50 day simple moving average is $908.41 and its 200 day simple moving average is $815.62.

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 the consensus estimate 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 return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $6.53 EPS. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid 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 dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

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.