Procyon Advisors LLC acquired a new stake in Parker-Hannifin Co. (NYSE: PH – Get Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 818 shares of the industrial products company stock, valued at approximately $ 232,000.
Several other large investors have also recently made changes to their positions in PH. Two Sigma Advisers LP purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at $ 2,125,000. Cetera Advisor Networks LLC grew its position in shares of Parker-Hannifin by 11.4% in the 3rd quarter. Cetera Advisor Networks LLC now owns 1,600 shares of the industrial products company stock valued at $ 448,000 after buying an additional 164 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Parker-Hannifin by 103.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,647 shares of the industrial products company stock valued at $ 461,000 after buying an additional 837 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Parker-Hannifin by 41.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 122 shares of the industrial products company stock valued at $ 39,000 after buying an additional 36 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its position in shares of Parker-Hannifin by 10.3% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 934 shares of the industrial products company stock valued at $ 297,000 after buying an additional 87 shares during the last quarter. 80.55% of the stock is currently owned by institutional investors.
In other news, Director James L. Wainscott bought 2,000 shares of the business’s stock in a transaction on Friday, May 6th. The shares were purchased at an average price of $ 267.78 per share, for a total transaction of $ 535,560.00. Following the purchase, the director now owns 17,280 shares of the company stock, valued at approximately $ 4,627,238.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James L. Wainscott bought 1,000 shares of the business’s stock in a transaction on Monday, May 9th. The stock was purchased at an average price of $ 273.44 per share, for a total transaction of $ 273,440.00. Following the purchase, the director now directly owns 18,280 shares in the company, valued at approximately $ 4,998,483.20. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.
Shares of PH stock opened at $ 250.00 on Wednesday. The stock has a 50-day moving average price of $ 266.00 and a 200 day moving average price of $ 287.88. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 0.69. The firm has a market cap of $ 32.09 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.54 and a beta of 1.57. Parker-Hannifin Co. has a 12 month low of $ 230.44 and a 12 month high of $ 340.00.
Parker-Hannifin (NYSE: PH – Get Rating) last posted its earnings results on Thursday, May 5th. The industrial products company reported $ 4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 4.61 by $ 0.22. The company had revenue of $ 4.09 billion during the quarter, compared to analyst estimates of $ 4.07 billion. Parker-Hannifin had a return on equity of 27.07% and a net margin of 10.82%. The company revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $ 4.11 EPS. Sell-side analysts predict that Parker-Hannifin Co. will post 18.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 13th were given a $ 1.33 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $ 1.03. This represents a $ 5.32 annualized dividend and a dividend yield of 2.13%. Parker-Hannifin’s payout ratio is currently 41.14%.
Several research analysts have issued reports on PH shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Parker-Hannifin from $ 343.00 to $ 335.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. The Goldman Sachs Group lowered their price target on shares of Parker-Hannifin from $ 346.00 to $ 287.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Mizuho lowered their target price on shares of Parker-Hannifin from $ 305.00 to $ 290.00 in a report on Friday, May 6th. Stifel Nicolaus lowered their target price on shares of Parker-Hannifin from $ 384.00 to $ 338.00 and set a “buy” rating for the company in a report on Monday, April 18th. Finally, Jefferies Financial Group reduced their target price on shares of Parker-Hannifin from $ 380.00 to $ 350.00 and set a “buy” rating for the company in a research report on Friday, March 4th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $ 351.08.
About Parker-Hannifin: (Get Rating)
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Company’s Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Co. (NYSE: PH – Get Rating).
Receive News & Ratings for Parker-Hannifin Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Parker-Hannifin and related companies with MarketBeat.com’s FREE daily email newsletter.