Nisa Investment Advisors LLC Raises Position in Parker-Hannifin Corporation $PH

Nisa Investment Advisors LLC lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.4% during the fourth quarter, HoldingsChannel reports. The fund owned 43,616 shares of the industrial products company’s stock after acquiring an additional 1,023 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Parker-Hannifin were worth $38,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Procyon Advisors LLC lifted its position in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the period. Bank of America Corp DE increased its position in Parker-Hannifin by 0.6% during the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after purchasing an additional 22,706 shares during the period. Capital World Investors raised its stake in shares of Parker-Hannifin by 7.0% during the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after buying an additional 169,073 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Parker-Hannifin by 1.8% in the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock valued at $1,638,556,000 after buying an additional 41,221 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Parker-Hannifin by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after buying an additional 13,309 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 3.7%

Shares of NYSE PH opened at $893.69 on Wednesday. The firm’s 50-day moving average is $952.57 and its two-hundred day moving average is $871.21. The company has a market capitalization of $112.80 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. 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 issued its quarterly earnings data 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%. During the same quarter in the previous year, the business posted $6.53 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a $1.80 dividend. 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 is currently 26.26%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PH. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a report on Thursday, January 29th. Barclays raised their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. BMO Capital Markets began coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 target price on the stock. Jefferies Financial Group upped their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Citigroup increased their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,000.10.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 1,457 shares of the firm’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 sale, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,063 shares of company stock valued at $9,891,214. Insiders own 0.32% of the company’s stock.

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.