Smartleaf Asset Management LLC Has $1.62 Million Holdings in Parker-Hannifin Corporation $PH

Smartleaf Asset Management LLC increased its position in Parker-Hannifin Corporation (NYSE:PH) by 59.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,147 shares of the industrial products company’s stock after acquiring an additional 802 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Parker-Hannifin were worth $1,618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 0.9% in the second quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after purchasing an additional 101,476 shares during the period. Procyon Advisors LLC grew its holdings in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Invesco Ltd. increased its position in Parker-Hannifin by 1.8% in the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after buying an additional 41,221 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Parker-Hannifin by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after buying an additional 92,913 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Parker-Hannifin by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock worth $1,449,496,000 after buying an additional 14,534 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Rachid Bendali sold 1,437 shares of Parker-Hannifin stock in a transaction dated 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 completion of the transaction, the vice president directly owned 2,714 shares of the company’s stock, valued at $2,315,014.86. This trade represents a 34.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the transaction, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This trade represents a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 10,769 shares of company stock valued at $9,649,169. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $977.70 on Monday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $989.13. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock has a market cap of $123.41 billion, a P/E ratio of 35.66, a PEG ratio of 3.33 and a beta of 1.25. The company’s 50-day simple moving average is $908.41 and its 200 day simple moving average is $816.23.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating 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 company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the business earned $6.53 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective for the company. Argus reissued a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research report on Monday, November 10th. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

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.