Cookson Peirce & Co. Inc. Acquires 170 Shares of Parker-Hannifin Co. (NYSE:PH)

Cookson Peirce & Co. Inc. lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,337 shares of the industrial products company’s stock after purchasing an additional 170 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Parker-Hannifin were worth $1,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PH. OFI Invest Asset Management acquired a new stake in Parker-Hannifin in the third quarter worth about $25,000. Baystate Wealth Management LLC increased its position in Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares during the period. DHJJ Financial Advisors Ltd. acquired a new stake in Parker-Hannifin in the third quarter worth about $29,000. First Capital Advisors Group LLC. acquired a new stake in Parker-Hannifin in the second quarter worth about $30,000. Finally, Oakworth Capital Inc. grew its position in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 0.2 %

PH stock opened at $544.21 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $69.88 billion, a PE ratio of 26.94, a PEG ratio of 1.99 and a beta of 1.52. Parker-Hannifin Co. has a 1-year low of $309.89 and a 1-year high of $570.15. The business’s 50 day simple moving average is $539.11 and its 200 day simple moving average is $470.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm posted $4.76 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is 29.31%.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 in the last ninety days. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PH shares. The Goldman Sachs Group restated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Barclays boosted their target price on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Evercore ISI boosted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company boosted their target price on Parker-Hannifin from $450.00 to $510.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $515.38.

About Parker-Hannifin

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 ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.