Lee Johnson Capital Management LLC Makes New Investment in Parker-Hannifin Corporation $PH

Lee Johnson Capital Management LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 4th quarter, Holdings Channel reports. The firm purchased 619 shares of the industrial products company’s stock, valued at approximately $544,000.

Several other large investors have also recently bought and sold shares of PH. ING Groep NV acquired a new position in shares of Parker-Hannifin in the third quarter valued at about $26,398,000. Quadrant Capital Group LLC boosted its holdings in Parker-Hannifin by 20.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after purchasing an additional 604 shares during the period. Procyon Advisors LLC grew its position in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock valued at $120,294,000 after buying an additional 56,103 shares during the period. Finally, Wilkinson Global Asset Management LLC grew its position in Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after buying an additional 10,653 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.9%

Parker-Hannifin stock opened at $923.62 on Wednesday. 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 firm’s fifty day moving average price is $957.23 and its two-hundred day moving average price is $866.61. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The firm has a market capitalization of $116.58 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 2.92 and a beta of 1.23.

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

Parker-Hannifin Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a report on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of 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. Finally, BNP Paribas Exane initiated coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $995.37.

Insider Transactions at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $4,659,336.00. Following the completion of the transaction, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. 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. Corporate insiders own 0.32% of the company’s stock.

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.