Manning & Napier Group LLC Raises Stock Position in Parker-Hannifin Co. (NYSE:PH)
Manning & Napier Group LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,732 shares of the industrial products company’s stock after buying an additional 776 shares during the quarter. Manning & Napier Group LLC’s holdings in Parker-Hannifin were worth $15,055,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Pegasus Asset Management Inc. grew its position in Parker-Hannifin by 1.6% in the first quarter. Pegasus Asset Management Inc. now owns 14,389 shares of the industrial products company’s stock worth $4,539,000 after acquiring an additional 226 shares in the last quarter. Venture Visionary Partners LLC lifted its stake in shares of Parker-Hannifin by 20.0% in the 1st quarter. Venture Visionary Partners LLC now owns 2,114 shares of the industrial products company’s stock valued at $666,000 after purchasing an additional 352 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Parker-Hannifin by 16.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,758 shares of the industrial products company’s stock worth $4,971,000 after purchasing an additional 2,175 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Parker-Hannifin by 6.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 6,858 shares of the industrial products company’s stock valued at $2,163,000 after purchasing an additional 391 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH raised its holdings in Parker-Hannifin by 6.2% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 2,455 shares of the industrial products company’s stock valued at $774,000 after buying an additional 144 shares during the period. 77.44% of the stock is owned by hedge funds and other institutional investors.
PH opened at $311.38 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 1.08. The stock’s fifty day moving average is $316.13 and its two-hundred day moving average is $279.67. The company has a market capitalization of $40.19 billion, a P/E ratio of 34.07, a PEG ratio of 1.97 and a beta of 1.74. Parker-Hannifin Co. has a 52 week low of $140.01 and a 52 week high of $323.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 4th. Shareholders of record on Friday, May 7th will be given a dividend of $1.03 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.88. The ex-dividend date is Thursday, May 6th. This represents a $4.12 dividend on an annualized basis and a yield of 1.32%. Parker-Hannifin’s dividend payout ratio (DPR) is 32.62%.
A number of research analysts have weighed in on PH shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Parker-Hannifin from $331.00 to $347.00 and gave the company a “buy” rating in a research report on Monday, April 19th. Credit Suisse Group increased their price objective on shares of Parker-Hannifin from $331.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Morgan Stanley raised their price objective on shares of Parker-Hannifin from $350.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. Citigroup upped their target price on Parker-Hannifin from $305.00 to $340.00 in a research note on Tuesday, March 16th. Finally, Stifel Nicolaus raised their price target on Parker-Hannifin from $320.00 to $343.00 in a research note on Friday, February 5th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $319.50.
In related news, VP Roger S. Sherrard sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $302.39, for a total transaction of $257,031.50. Following the transaction, the vice president now directly owns 74,593 shares of the company’s stock, valued at $22,556,177.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linda S. Harty sold 7,719 shares of the firm’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $311.69, for a total transaction of $2,405,935.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,565 shares of company stock valued at $3,912,596. Company insiders own 1.47% of the company’s stock.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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