R Squared Ltd Invests $204,000 in Parker-Hannifin Co. (NYSE:PH)

R Squared Ltd purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 320 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares during the last quarter. Wellington Management Group LLP lifted its stake in 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 worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Parker-Hannifin by 64,081.5% in 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 purchasing an additional 381,285 shares in the last quarter. World Investment Advisors LLC purchased a new position in Parker-Hannifin in the third quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC grew its position in shares of Parker-Hannifin by 3,566.4% in the 3rd 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. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Barclays boosted their price target on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $722.81.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $665.56 on Wednesday. The stock has a fifty day moving average price of $667.79 and a 200 day moving average price of $626.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The stock has a market cap of $85.67 billion, a PE ratio of 30.06, a P/E/G ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 1 year low of $463.16 and a 1 year high of $712.42.

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

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 29.45%.

Parker-Hannifin Company Profile

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.