Fifth Third Bancorp Sells 1,770 Shares of Parker-Hannifin Corporation $PH

Fifth Third Bancorp reduced its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,968 shares of the industrial products company’s stock after selling 1,770 shares during the period. Fifth Third Bancorp’s holdings in Parker-Hannifin were worth $116,731,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $29,000. Valley Wealth Managers Inc. purchased a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $36,000. State of Wyoming bought a new position in Parker-Hannifin during the 2nd quarter valued at approximately $38,000. Princeton Global Asset Management LLC increased its position in Parker-Hannifin by 56.1% during the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock valued at $45,000 after buying an additional 23 shares in the last quarter. Finally, Sagard Holdings Management Inc. purchased a new position in Parker-Hannifin during the second quarter valued at $46,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH opened at $1,001.30 on Monday. The company’s 50-day simple moving average is $920.62 and its two-hundred day simple moving average is $825.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock has a market capitalization of $126.38 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.23 and a beta of 1.25. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,012.49.

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 the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the company earned $6.53 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a dividend of $1.80 per share. 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 dividend payout ratio is presently 26.26%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This represents a 26.23% 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, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,551 shares of company stock worth $12,117,502. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley reissued a “positive” rating on shares of Parker-Hannifin in a research note on Wednesday, January 14th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Argus restated a “buy” rating and set a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. Citigroup lifted their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a report on Thursday, January 29th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin 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.