Citigroup Inc. Buys 56,103 Shares of Parker-Hannifin Corporation $PH

Citigroup Inc. boosted its position in Parker-Hannifin Corporation (NYSE:PH) by 54.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,668 shares of the industrial products company’s stock after acquiring an additional 56,103 shares during the quarter. Citigroup Inc. owned 0.13% of Parker-Hannifin worth $120,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ING Groep NV bought a new position in Parker-Hannifin in the 3rd quarter worth $26,398,000. Quadrant Capital Group LLC increased its position in shares of 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 valued at $2,521,000 after buying an additional 604 shares during the period. Procyon Advisors LLC raised its stake in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Wilkinson Global Asset Management LLC lifted its holdings in Parker-Hannifin by 28.2% in the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after buying an additional 10,653 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Parker-Hannifin during the 2nd quarter valued at approximately $733,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PH shares. Susquehanna restated a “positive” rating and set a $1,000.00 price target on shares of Parker-Hannifin in a research report on Wednesday, November 12th. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 target price on the stock. Argus reiterated a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a research note on Monday, November 10th. Barclays boosted their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $990.47.

Insider Buying and Selling

In related news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 in the last 90 days. 0.32% of the stock is owned by insiders.

Parker-Hannifin Stock Up 1.0%

PH opened at $1,022.31 on Friday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,024.58. 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 firm has a 50 day moving average price of $933.20 and a 200-day moving average price of $834.58. The stock has a market capitalization of $129.04 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 3.29 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released 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 firm 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 company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.53 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm 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 $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio is 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.