Prime Capital Investment Advisors LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Prime Capital Investment Advisors LLC boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,419 shares of the industrial products company’s stock after buying an additional 57 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Parker-Hannifin were worth $897,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Wilkinson Global Asset Management LLC grew its stake in shares of Parker-Hannifin by 59.1% in the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after buying an additional 14,526 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in Parker-Hannifin by 198.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock valued at $1,912,000 after acquiring an additional 2,289 shares during the period. Canada Pension Plan Investment Board grew its position in Parker-Hannifin by 19.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock valued at $38,500,000 after acquiring an additional 11,510 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Parker-Hannifin by 1.8% during the first quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock worth $30,310,000 after purchasing an additional 982 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Parker-Hannifin in the first quarter valued at approximately $20,140,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.2 %

Shares of NYSE PH opened at $698.91 on Friday. The business has a 50-day moving average price of $633.64 and a 200 day moving average price of $573.94. The stock has a market cap of $89.96 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52-week low of $425.20 and a 52-week high of $711.60.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.96 earnings per share. Equities research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PH. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. KeyCorp upped their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday. Barclays upped their price target on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $688.07.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,927 shares of company stock valued at $12,807,811. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.