Parker-Hannifin Corporation $PH Shares Sold by Alphinity Investment Management Pty Ltd

Alphinity Investment Management Pty Ltd decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 22.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 561,945 shares of the industrial products company’s stock after selling 161,777 shares during the quarter. Parker-Hannifin accounts for about 4.2% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 13th largest holding. Alphinity Investment Management Pty Ltd’s holdings in Parker-Hannifin were worth $426,039,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Parker-Hannifin by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock valued at $7,770,646,000 after buying an additional 101,476 shares during the period. Procyon Advisors LLC boosted its stake 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 acquiring an additional 5,066,179 shares during the period. Invesco Ltd. grew its holdings in shares of Parker-Hannifin by 1.8% during the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock valued at $1,638,556,000 after purchasing an additional 41,221 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Parker-Hannifin by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after purchasing an additional 92,913 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Parker-Hannifin by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock worth $1,449,496,000 after purchasing an additional 14,534 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Rachid Bendali sold 1,437 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the sale, the vice president owned 2,714 shares in the company, valued at $2,315,014.86. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the sale, the vice president owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,769 shares of company stock valued at $9,649,169 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Susquehanna restated a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a research report on Wednesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Morgan Stanley reiterated a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $990.47.

Parker-Hannifin Price Performance

NYSE PH opened at $977.70 on Friday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $989.13. The business’s fifty day moving average is $908.41 and its two-hundred day moving average is $815.62. The stock has a market capitalization of $123.41 billion, a P/E ratio of 35.66, a P/E/G ratio of 3.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

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. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the firm posted $6.53 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders 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 is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Parker-Hannifin Company Profile

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.