3,380 Shares in Parker-Hannifin Corporation $PH Acquired by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,380 shares of the industrial products company’s stock, valued at approximately $2,564,000.

Other institutional investors also recently made changes to their positions in the company. Procyon Advisors LLC raised its stake in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Norges Bank acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $1,352,509,000. Canada Pension Plan Investment Board boosted its stake in shares of Parker-Hannifin by 115.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after purchasing an additional 197,317 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Parker-Hannifin by 9.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after buying an additional 136,359 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $103,284,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 0.6%

NYSE PH opened at $1,009.11 on Monday. 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 business has a 50 day moving average price of $947.29 and a two-hundred day moving average price of $845.17. The stock has a market cap of $127.37 billion, a PE ratio of 36.80, a P/E/G ratio of 3.25 and a beta of 1.23. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $6.53 EPS. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal 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 given a dividend of $1.80 per share. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio is currently 26.26%.

Insider Activity

In related news, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,551 shares of company stock worth $12,117,502 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Barclays upped 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. Jefferies Financial Group increased their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $995.37.

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.