Dana Investment Advisors Inc. Sells 4,358 Shares of Parker-Hannifin Corporation $PH

Dana Investment Advisors Inc. lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 15.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,366 shares of the industrial products company’s stock after selling 4,358 shares during the period. Dana Investment Advisors Inc.’s holdings in Parker-Hannifin were worth $17,715,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its stake in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares in the last quarter. Bison Wealth LLC boosted its stake in Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares during the last quarter. Empowered Funds LLC grew its holdings in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 15 shares during the period. Acadian Asset Management LLC increased its holdings in Parker-Hannifin by 26.2% in the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Parker-Hannifin by 3.6% in 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. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Down 1.4%

Shares of PH opened at $1,008.15 on Tuesday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,024.58. The business’s 50 day moving average is $935.69 and its 200 day moving average is $837.54. 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 company has a market capitalization of $127.25 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.29 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 earnings per share for the quarter, beating 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 analyst estimates of $5.07 billion. During the same period last year, the firm posted $6.53 earnings per share. Parker-Hannifin’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Friday, February 6th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Argus restated a “buy” rating and set a $900.00 price target on shares of Parker-Hannifin in a research report on Monday, November 10th. Susquehanna reissued a “positive” rating and set a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Barclays boosted their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.