Aberdeen Group plc Has $85.31 Million Stake in Parker-Hannifin Corporation $PH

Aberdeen Group plc lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,201 shares of the industrial products company’s stock after purchasing an additional 3,615 shares during the period. Aberdeen Group plc owned 0.09% of Parker-Hannifin worth $85,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Berkshire Asset Management LLC PA increased its position in Parker-Hannifin by 1.1% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after buying an additional 13 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Parker-Hannifin by 1.3% in the second 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 in the last quarter. High Net Worth Advisory Group LLC increased its position in 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 worth $3,559,000 after acquiring an additional 14 shares during the period. Meadow Creek Wealth Advisors LLC increased its position in 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 worth $300,000 after acquiring an additional 15 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in Parker-Hannifin by 0.8% in the 2nd 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 in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the business’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 sale, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This represents a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PH. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Morgan Stanley reiterated a “positive” rating on shares of Parker-Hannifin in a research note on Wednesday, January 14th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. iA Financial set a $1,032.00 target price on Parker-Hannifin in a research report on Thursday, January 29th. Finally, Stifel Nicolaus increased their target price on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,001.30 on Monday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,012.49. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $920.62 and its 200 day simple moving average is $825.21. The firm has a market capitalization of $126.38 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the business earned $6.53 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

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.