Parker-Hannifin Corporation $PH Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in Parker-Hannifin Corporation (NYSE:PH) by 7.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 595,211 shares of the industrial products company’s stock after selling 50,667 shares during the quarter. Dimensional Fund Advisors LP owned 0.47% of Parker-Hannifin worth $451,220,000 as of its most recent filing with the SEC.

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

Insider Activity at Parker-Hannifin

In other news, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,551 shares of company stock valued at $12,117,502 over the last ninety days. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

PH has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Susquehanna reiterated a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a research report on Wednesday, November 12th. Citigroup boosted their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Stock Down 0.2%

Shares of NYSE:PH opened at $986.90 on Thursday. The company has a market capitalization of $124.57 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 3.18 and a beta of 1.23. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. The business has a 50-day moving average price of $953.78 and a 200 day moving average price of $849.82. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Dividend Announcement

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 given a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s payout ratio is presently 26.26%.

About Parker-Hannifin

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.