Bessemer Group Inc. Purchases 779 Shares of Parker-Hannifin Corporation $PH

Bessemer Group Inc. increased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,756 shares of the industrial products company’s stock after acquiring an additional 779 shares during the quarter. Bessemer Group Inc.’s holdings in Parker-Hannifin were worth $4,363,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Parker-Hannifin by 0.6% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,951 shares of the industrial products company’s stock valued at $9,061,000 after buying an additional 72 shares during the period. SBI Securities Co. Ltd. boosted its position in Parker-Hannifin by 30.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 145 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 34 shares in the last quarter. Optimize Financial Inc boosted its position in Parker-Hannifin by 20.5% during the 3rd quarter. Optimize Financial Inc now owns 417 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 71 shares in the last quarter. Savant Capital LLC increased its holdings in shares of Parker-Hannifin by 0.4% in the 3rd quarter. Savant Capital LLC now owns 5,569 shares of the industrial products company’s stock valued at $4,222,000 after acquiring an additional 24 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in shares of Parker-Hannifin by 1.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,112 shares of the industrial products company’s stock worth $3,876,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PH. Mizuho lifted their target price on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Morgan Stanley reissued a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Finally, Argus reaffirmed a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a report on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $990.47.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 3,507 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total value of $3,032,082.06. Following the sale, the vice president owned 2,580 shares in the company, valued at approximately $2,230,616.40. This represents a 57.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s 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 sale, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This represents a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,769 shares of company stock valued at $9,649,169 in the last three months. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Up 1.0%

NYSE:PH opened at $977.70 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $908.41 and a 200-day simple moving average of $815.62. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $989.13. The company has a market capitalization of $123.41 billion, a P/E ratio of 35.66, a PEG ratio of 3.33 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. 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 business posted $6.53 EPS. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s payout ratio is 26.26%.

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.