Pitcairn Co. Has $2.10 Million Stock Position in Parker-Hannifin Corporation $PH

Pitcairn Co. lowered its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 28.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,768 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. Pitcairn Co.’s holdings in Parker-Hannifin were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PH. Procyon Advisors LLC lifted 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 worth $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Norges Bank acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $1,352,509,000. Canada Pension Plan Investment Board raised its stake in shares of 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 valued at $256,970,000 after acquiring an additional 197,317 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Parker-Hannifin by 9.1% in 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 purchasing an additional 136,359 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. acquired a new stake in Parker-Hannifin in the 3rd quarter worth approximately $103,284,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 12,551 shares of company stock valued at $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Trading Down 2.3%

Shares of PH opened at $964.62 on Friday. The stock’s 50-day moving average price is $955.32 and its 200 day moving average price is $850.62. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $121.75 billion, a price-to-earnings ratio of 35.18, a P/E/G 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.

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

Parker-Hannifin Dividend Announcement

The firm 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 dividend of $1.80 per share. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Analyst Upgrades and Downgrades

PH has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Susquehanna reaffirmed a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a research report on Wednesday, November 12th. KeyCorp reissued an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

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.