AdvisorShares Investments LLC Has $565,000 Stock Position in Parker-Hannifin Corporation $PH

AdvisorShares Investments LLC boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 2,028.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 745 shares of the industrial products company’s stock after purchasing an additional 710 shares during the quarter. AdvisorShares Investments LLC’s holdings in Parker-Hannifin were worth $565,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC boosted its stake in Parker-Hannifin by 1.3% during the second quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after acquiring an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC increased its stake in Parker-Hannifin by 0.3% in 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 in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares during the period. Empowered Funds LLC boosted its position in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC grew its stake in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.0%

Shares of NYSE:PH opened at $977.70 on Friday. The business’s 50 day moving average is $908.41 and its 200 day moving average is $815.62. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $989.13. The stock has a market cap 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 quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $6.53 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 3,507 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $864.58, for a total value of $3,032,082.06. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,230,616.40. This represents a 57.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,769 shares of company stock valued at $9,649,169 in the last quarter. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PH. Mizuho upped their price target on Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a report on Friday, January 30th. Susquehanna reaffirmed a “positive” rating and set a $1,000.00 target price on shares of Parker-Hannifin in a research report on Wednesday, November 12th. JPMorgan Chase & Co. lifted their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

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.