Parker-Hannifin Co. (NYSE:PH) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,518 shares of the industrial products company’s stock after selling 10,443 shares during the period. Mackenzie Financial Corp owned about 0.11% of Parker-Hannifin worth $62,894,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PH. Wilbanks Smith & Thomas Asset Management LLC grew its position in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. grew its position in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA grew its position in Parker-Hannifin by 0.7% during the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 25 shares in the last quarter. Acropolis Investment Management LLC grew its position in Parker-Hannifin by 4.8% during the third quarter. Acropolis Investment Management LLC now owns 563 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 26 shares in the last quarter. Finally, Caprock Group LLC grew its position in Parker-Hannifin by 1.8% during the fourth quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. KeyCorp boosted their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays lifted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $544.21 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The firm has a fifty day moving average price of $539.11 and a two-hundred day moving average price of $470.15. The company has a market cap of $69.88 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 1.99 and a beta of 1.52.

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

Parker-Hannifin Announces Dividend

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

Parker-Hannifin Profile

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.