AMP Capital Investors Ltd Increases Stake in Parker-Hannifin Corp (PH)

AMP Capital Investors Ltd grew its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,325 shares of the industrial products company’s stock after buying an additional 1,911 shares during the period. AMP Capital Investors Ltd’s holdings in Parker-Hannifin were worth $7,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PH. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at $214,250,000. Janus Henderson Group PLC grew its stake in shares of Parker-Hannifin by 27.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock valued at $396,154,000 after buying an additional 548,399 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Parker-Hannifin by 16,700.2% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 420,341 shares of the industrial products company’s stock valued at $2,693,000 after buying an additional 417,839 shares during the period. Victory Capital Management Inc. grew its stake in shares of Parker-Hannifin by 43.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,134,998 shares of the industrial products company’s stock valued at $176,889,000 after buying an additional 342,899 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Parker-Hannifin by 14,869.5% during the 2nd quarter. Bessemer Group Inc. now owns 330,975 shares of the industrial products company’s stock valued at $51,582,000 after buying an additional 328,764 shares during the period. 80.62% of the stock is owned by institutional investors.

A number of brokerages recently weighed in on PH. Argus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $176.00 price target for the company. in a research report on Tuesday, August 14th. Jefferies Financial Group reaffirmed a “$162.10” rating and set a $170.00 price target on shares of Parker-Hannifin in a research report on Wednesday, July 18th. Morgan Stanley began coverage on shares of Parker-Hannifin in a research report on Monday, August 20th. They set an “equal weight” rating and a $185.00 price target for the company. Robert W. Baird set a $190.00 price target on shares of Parker-Hannifin and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $188.78.

Shares of PH stock opened at $184.68 on Friday. Parker-Hannifin Corp has a 12 month low of $152.47 and a 12 month high of $212.80. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.41 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.31. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the business posted $2.45 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. sell-side analysts forecast that Parker-Hannifin Corp will post 11.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, August 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.65%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.

In other news, VP William R. Bowman sold 2,400 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the sale, the vice president now owns 1,325 shares in the company, valued at approximately $232,352. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joseph R. Leonti sold 1,605 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the sale, the vice president now owns 15,731 shares in the company, valued at approximately $2,777,465.36. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Parker-Hannifin Profile

Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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