Choreo LLC Has $4.70 Million Holdings in Parker-Hannifin Corporation $PH

Choreo LLC raised its holdings in Parker-Hannifin Corporation (NYSE:PH) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,196 shares of the industrial products company’s stock after acquiring an additional 551 shares during the period. Choreo LLC’s holdings in Parker-Hannifin were worth $4,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PH. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $29,000. Valley Wealth Managers Inc. bought a new position in Parker-Hannifin in the third quarter valued at approximately $36,000. State of Wyoming bought a new stake in shares of Parker-Hannifin during the second quarter worth $38,000. Sagard Holdings Management Inc. bought a new stake in Parker-Hannifin in the 2nd quarter valued at $46,000. Finally, Financial Consulate Inc. acquired a new position in Parker-Hannifin in the 3rd quarter worth $47,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Argus reaffirmed a “buy” rating and set a $900.00 price target on shares of Parker-Hannifin in a research note on Monday, November 10th. Citigroup boosted their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group raised their target price on shares of 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. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $995.37.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,009.11 on Friday. The firm has a market capitalization of $127.37 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 3.27 and a beta of 1.25. 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’s fifty day moving average price is $947.29 and its two-hundred day moving average price is $843.95. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96.

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, topping 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 company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the business earned $6.53 EPS. Parker-Hannifin’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Insider Activity at Parker-Hannifin

In related news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their position. 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 on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This represents a 9.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,551 shares of company stock worth $12,117,502 in the last three months. 0.32% of the stock is owned by company insiders.

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.