Bahl & Gaynor Inc. Cuts Position in Parker-Hannifin Corporation $PH

Bahl & Gaynor Inc. decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,065 shares of the industrial products company’s stock after selling 941 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Parker-Hannifin were worth $34,924,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Berkshire Asset Management LLC PA increased its position in shares of Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after buying an additional 13 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in Parker-Hannifin by 2.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 13 shares during the period. Fidelis Capital Partners LLC increased its holdings in Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after acquiring an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC raised its position in Parker-Hannifin by 0.3% during the third quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after acquiring an additional 14 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in Parker-Hannifin by 0.8% during the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,280,000 after purchasing an additional 15 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction that occurred 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 approximately $20,658,227.40. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction 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 in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,551 shares of company stock worth $12,117,502 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $1,009.11 on Monday. 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 company has a market capitalization of $127.37 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 3.25 and a beta of 1.23. The company’s 50 day simple moving average is $947.29 and its 200-day simple moving average is $845.17. 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 posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.53 earnings per share. As a group, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup boosted 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 research note on Friday, January 30th. Jefferies Financial Group lifted their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, January 30th. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research note on Thursday, January 29th. JPMorgan Chase & Co. raised their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $995.37.

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.