Parker-Hannifin Corporation $PH Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 433,600 shares of the industrial products company’s stock after buying an additional 5,388 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.34% of Parker-Hannifin worth $328,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin in the third quarter valued at approximately $29,000. Ameriflex Group Inc. increased its position in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Parker-Hannifin during the third quarter worth approximately $36,000. Finally, Johnson Financial Group Inc. raised its stake in Parker-Hannifin by 84.6% during the third quarter. Johnson Financial Group Inc. now owns 48 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PH. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Stifel Nicolaus boosted their price target on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Citigroup upped their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group lifted their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $995.37.

Insiders Place Their Bets

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at $13,106,880. This represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 10,063 shares of company stock valued at $9,891,214. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $893.09 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market cap of $112.73 billion, a PE ratio of 32.57, a P/E/G ratio of 2.87 and a beta of 1.23. The company’s fifty day simple moving average is $959.35 and its 200-day simple moving average is $860.30. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96.

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

Parker-Hannifin Announces Dividend

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

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.