Bahl & Gaynor Inc. Sells 941 Shares of Parker-Hannifin Corporation $PH

Bahl & Gaynor Inc. decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,065 shares of the industrial products company’s stock after selling 941 shares during the period. Bahl & Gaynor Inc.’s holdings in Parker-Hannifin were worth $34,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Procyon Advisors LLC grew its stake in Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after acquiring an additional 5,066,179 shares in the last quarter. Norges Bank bought a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $1,352,509,000. Canada Pension Plan Investment Board grew its position in shares of Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock valued at $256,970,000 after purchasing an additional 197,317 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Parker-Hannifin by 9.1% in 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 purchasing an additional 136,359 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. purchased a new stake in shares of Parker-Hannifin in the third quarter worth about $103,284,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the company’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 completion of the sale, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,551 shares of company stock worth $12,117,502 over the last quarter. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Down 0.6%

Shares of NYSE PH opened at $1,009.11 on Monday. The company has a market cap of $127.37 billion, a P/E ratio of 36.80, a PEG ratio of 3.25 and a beta of 1.23. The firm has a 50-day simple moving average of $947.29 and a two-hundred day simple moving average of $845.17. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

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, topping the consensus estimate of $7.11 by $0.54. The company 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%.Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.53 earnings per share. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company 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 $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Argus restated a “buy” rating and set a $900.00 price target on shares of Parker-Hannifin in a report on Monday, November 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research report on Thursday, January 29th. Citigroup increased their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $995.37.

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.