Vaughan Nelson Investment Management L.P. Reduces Position in Parker-Hannifin Corporation $PH

Vaughan Nelson Investment Management L.P. trimmed its holdings in Parker-Hannifin Corporation (NYSE:PH) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,182 shares of the industrial products company’s stock after selling 925 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Parker-Hannifin were worth $37,076,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $29,000. Ameriflex Group Inc. lifted 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 valued at $32,000 after purchasing an additional 33 shares during the period. Morse Asset Management Inc boosted its holdings in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in Parker-Hannifin in the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. This represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,063 shares of company stock worth $9,891,214 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th. BNP Paribas Exane started coverage on Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price objective for the company. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research report on Thursday, January 29th. Morgan Stanley raised their target price on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Finally, BMO Capital Markets assumed coverage on Parker-Hannifin in a research note on Friday. They set an “outperform” rating and a $1,090.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,000.10.

Parker-Hannifin Trading Down 3.0%

NYSE:PH opened at $861.42 on Tuesday. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $1,034.96. The business has a fifty day moving average price of $953.27 and a 200-day moving average price of $870.26. The firm has a market capitalization of $108.73 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a dividend of $1.80 per share. 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 payout ratio 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.