NEOS Investment Management LLC Buys 4,786 Shares of Parker-Hannifin Corporation $PH

NEOS Investment Management LLC increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 25.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,280 shares of the industrial products company’s stock after buying an additional 4,786 shares during the quarter. NEOS Investment Management LLC’s holdings in Parker-Hannifin were worth $17,650,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chilton Capital Management LLC purchased a new position in Parker-Hannifin in the third quarter valued at approximately $29,000. Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin in the third quarter valued at $36,000. State of Wyoming purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at $38,000. Princeton Global Asset Management LLC grew its stake in shares of Parker-Hannifin by 56.1% during the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 23 shares during the period. Finally, Sagard Holdings Management Inc. bought a new position in shares of Parker-Hannifin during the 2nd quarter worth $46,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,551 shares of company stock worth $12,117,502. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PH shares. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a report on Friday, January 30th. Morgan Stanley restated a “positive” rating on shares of Parker-Hannifin in a research note on Wednesday, January 14th. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Wells Fargo & Company raised their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Price Performance

NYSE:PH opened at $1,010.01 on Wednesday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,014.66. The stock has a fifty day moving average of $926.01 and a 200 day moving average of $829.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The firm has a market capitalization of $127.48 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 3.23 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the firm posted $6.53 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Parker-Hannifin 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.