Guardian Capital LP Acquires 823 Shares of Parker-Hannifin Corporation $PH

Guardian Capital LP raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.5% in the third quarter, Holdings Channel reports. The institutional investor owned 15,746 shares of the industrial products company’s stock after buying an additional 823 shares during the quarter. Guardian Capital LP’s holdings in Parker-Hannifin were worth $11,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC grew its position in Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after purchasing an additional 32 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares during the period. Acadian Asset Management LLC raised its position in shares of Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after buying an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PH shares. BNP Paribas Exane began coverage on Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 target price on the stock. Argus reaffirmed a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a report on Monday, November 10th. JPMorgan Chase & Co. raised their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Stock Performance

NYSE PH opened at $923.01 on Friday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. 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 stock has a market cap of $116.50 billion, a P/E ratio of 33.66, a PEG ratio of 3.11 and a beta of 1.23. The company’s 50-day simple moving average is $956.00 and its 200 day simple moving average is $851.92.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the 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 represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin 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 transaction, the vice president directly owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,551 shares of company stock worth $12,117,502 over the last three months. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Company 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.