ABC Arbitrage SA Purchases New Stake in Parker-Hannifin Corporation $PH

ABC Arbitrage SA bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,477 shares of the industrial products company’s stock, valued at approximately $1,120,000.

Several other institutional investors have also modified their holdings of PH. Fidelis Capital Partners LLC increased its position in 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 acquiring an additional 14 shares during the period. High Net Worth Advisory Group LLC increased its holdings 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. Meadow Creek Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 3.6% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Parker-Hannifin by 0.8% in the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after purchasing an additional 15 shares during the period. Finally, Sivia Capital Partners LLC grew its position in Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, COO Andrew D. Ross sold 2,488 shares of Parker-Hannifin 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 transaction, the chief operating officer 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 document filed with the SEC, which is accessible through this link. Also, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction dated 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 owned 6,534 shares in the company, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 5,825 shares of company stock worth $5,391,341. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $996.34 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $125.76 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 3.20 and a beta of 1.25. The stock has a 50-day moving average of $916.02 and a 200 day moving average of $820.99. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,012.49.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the business posted $6.53 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Finally, Argus restated a “buy” rating and issued a $900.00 target price on shares of Parker-Hannifin in a report on Monday, November 10th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.