Financial Planning Hawaii Inc. Invests $593,000 in Parker-Hannifin Corporation $PH

Financial Planning Hawaii Inc. bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the fourth quarter, Holdings Channel.com reports. The fund bought 675 shares of the industrial products company’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PH. ING Groep NV bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $26,398,000. Procyon Advisors LLC boosted its stake in Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares in the last quarter. Citigroup Inc. grew its holdings in Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 56,103 shares during the period. Wilkinson Global Asset Management LLC grew its holdings in Parker-Hannifin by 28.2% in the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after purchasing an additional 10,653 shares during the period. Finally, Advisors Capital Management LLC increased its stake in Parker-Hannifin by 140.0% in the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock valued at $1,693,000 after purchasing an additional 1,302 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction on 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 transaction, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,063 shares of company stock valued at $9,891,214 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Citigroup increased their price target on 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, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $1,000.10.

Parker-Hannifin Stock Down 3.0%

Shares of NYSE PH opened at $861.42 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company has a 50-day moving average price of $953.27 and a 200-day moving average price of $870.26. The stock has a market capitalization of $108.73 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.86 and a beta of 1.23. 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 announced its quarterly earnings results 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 business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $6.53 EPS. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a $1.80 dividend. 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 (DPR) is currently 26.26%.

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.