Aster Capital Management DIFC Ltd Makes New Investment in Parker-Hannifin Corporation $PH

Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,569 shares of the industrial products company’s stock, valued at approximately $1,190,000.

Other hedge funds also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in Parker-Hannifin during the 3rd quarter valued at $29,000. Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth $36,000. State of Wyoming purchased a new stake in shares of Parker-Hannifin in the second quarter valued at about $38,000. Financial Consulate Inc. bought a new position in shares of Parker-Hannifin during the third quarter valued at about $47,000. Finally, Sagard Holdings Management Inc. purchased a new position in Parker-Hannifin during the second quarter worth about $46,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a research report on Thursday, January 29th. Jefferies Financial Group increased their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. lifted their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $1,014.95 on Friday. The firm’s 50 day moving average is $944.58 and its 200 day moving average is $842.02. The stock has a market capitalization of $128.11 billion, a P/E ratio of 37.01, a PEG ratio of 3.26 and a beta of 1.25. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,034.96. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

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. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $6.53 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Insiders Place Their Bets

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. The trade was a 16.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,551 shares of company stock worth $12,117,502 over the last quarter. Insiders own 0.32% of the company’s stock.

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.