Smith Group Asset Management LLC Acquires 415 Shares of Parker-Hannifin Co. (NYSE:PH)

Smith Group Asset Management LLC raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 63,434 shares of the industrial products company’s stock after buying an additional 415 shares during the period. Parker-Hannifin accounts for 3.0% of Smith Group Asset Management LLC’s portfolio, making the stock its 7th biggest position. Smith Group Asset Management LLC’s holdings in Parker-Hannifin were worth $40,346,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PH. State Street Corp grew its holdings in shares of Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin during the third quarter valued at $226,570,000. Finally, Mizuho Securities USA LLC grew its holdings in shares of Parker-Hannifin by 3,566.4% during the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after buying an additional 353,393 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PH shares. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Barclays upped their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Stifel Nicolaus lowered their price target on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating on the stock in a report on Friday, January 24th. UBS Group began coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Trading Up 0.4 %

Shares of Parker-Hannifin stock opened at $665.56 on Wednesday. The firm has a 50-day simple moving average of $667.31 and a two-hundred day simple moving average of $627.69. The company has a market cap of $85.67 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 in the last 90 days. Insiders own 0.39% of the company’s stock.

About Parker-Hannifin

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 Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.