Goodman Advisory Group LLC Acquires 911 Shares of Parker-Hannifin Corporation $PH

Goodman Advisory Group LLC boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 511.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,089 shares of the industrial products company’s stock after buying an additional 911 shares during the quarter. Goodman Advisory Group LLC’s holdings in Parker-Hannifin were worth $826,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $29,000. Ameriflex Group Inc. raised its stake in Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 33 shares during the period. Valley Wealth Managers Inc. bought a new stake in Parker-Hannifin in the 3rd quarter valued at $36,000. State of Wyoming acquired a new stake in Parker-Hannifin during the 2nd quarter valued at $38,000. Finally, Sagard Holdings Management Inc. bought a new position in Parker-Hannifin during the second quarter worth $46,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 4.4%

PH opened at $923.01 on Friday. The stock has a fifty day moving average of $956.00 and a 200-day moving average of $852.67. The company has a market capitalization of $116.50 billion, a P/E ratio of 33.66, a P/E/G ratio of 2.97 and a beta of 1.23. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS 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 business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the company posted $6.53 earnings per share. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Insider Activity at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PH has been the topic of several research analyst reports. Barclays increased their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Argus reiterated a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a research note on Monday, November 10th. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.