Vista Cima Wealth Management LLC Buys New Position in Parker-Hannifin Corporation $PH

Vista Cima Wealth Management LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 862 shares of the industrial products company’s stock, valued at approximately $654,000.

Several other large investors have also recently added to or reduced their stakes in PH. ING Groep NV purchased a new stake in Parker-Hannifin during the third quarter worth approximately $26,398,000. Quadrant Capital Group LLC lifted its holdings in shares of Parker-Hannifin by 20.1% during 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 acquiring an additional 604 shares in the last quarter. Procyon Advisors LLC boosted its position in 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 during the period. Wilkinson Global Asset Management LLC increased its holdings in Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after purchasing an additional 10,653 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Parker-Hannifin by 54.7% in the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock valued at $120,294,000 after purchasing an additional 56,103 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. Morgan Stanley boosted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. raised their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Wells Fargo & Company upped their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research report on Thursday, January 29th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $995.37.

Parker-Hannifin Stock Down 1.3%

Shares of NYSE PH opened at $890.28 on Friday. The firm has a market cap of $112.37 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 2.91 and a beta of 1.23. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock’s 50-day simple moving average is $959.64 and its 200-day simple moving average is $858.10.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share 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 firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the firm earned $6.53 EPS. Parker-Hannifin’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given 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 dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction 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 transaction, the vice president directly owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,063 shares of company stock valued at $9,891,214 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

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.