Advisors Asset Management Inc. Acquires 3,865 Shares of Parker-Hannifin Corporation $PH

Advisors Asset Management Inc. raised its holdings in Parker-Hannifin Corporation (NYSE:PH) by 22.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,880 shares of the industrial products company’s stock after buying an additional 3,865 shares during the quarter. Advisors Asset Management Inc.’s holdings in Parker-Hannifin were worth $15,830,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Chilton Capital Management LLC acquired a new stake in shares of Parker-Hannifin in the third quarter worth $29,000. Interchange Capital Partners LLC bought a new stake in Parker-Hannifin in the 2nd quarter valued at $31,000. Valley Wealth Managers Inc. acquired a new stake in Parker-Hannifin in the 3rd quarter worth $36,000. State of Wyoming bought a new position in shares of Parker-Hannifin during the 2nd quarter worth about $38,000. Finally, Princeton Global Asset Management LLC raised its position in shares of Parker-Hannifin by 56.1% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock valued at $45,000 after buying an additional 23 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $989.98 on Wednesday. The stock has a market capitalization of $124.96 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 3.15 and a beta of 1.25. The firm’s 50-day moving average price is $913.47 and its two-hundred day moving average price is $819.76. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $992.08.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping 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%.The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the business earned $6.53 EPS. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date 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 (DPR) is 26.26%.

Insiders Place Their Bets

In related news, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the transaction, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,825 shares of company stock valued at $5,391,341. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Argus reaffirmed a “buy” rating and issued a $900.00 target price on shares of Parker-Hannifin in a research report on Monday, November 10th. Finally, iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a report on Thursday, January 29th. Seventeen investment 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 has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin Company 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.