Parker-Hannifin Co. (NYSE:PH) Stock Holdings Raised by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its position in Parker-Hannifin Co. (NYSE:PH) by 12.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 616,400 shares of the industrial products company’s stock after purchasing an additional 70,237 shares during the quarter. Parker-Hannifin accounts for about 2.6% of AMF Tjanstepension AB’s holdings, making the stock its 9th largest holding. AMF Tjanstepension AB owned approximately 0.48% of Parker-Hannifin worth $342,660,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Operose Advisors LLC bought a new stake in Parker-Hannifin in the third quarter worth $57,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Parker-Hannifin by 51.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,085 shares of the industrial products company’s stock valued at $2,760,000 after acquiring an additional 2,393 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Parker-Hannifin by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,956 shares of the industrial products company’s stock valued at $22,575,000 after acquiring an additional 292 shares during the period. Tower Research Capital LLC TRC grew its position in Parker-Hannifin by 114.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,318 shares of the industrial products company’s stock worth $2,851,000 after acquiring an additional 3,904 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Parker-Hannifin in the 3rd quarter worth approximately $286,000. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Up 0.4 %

Shares of NYSE:PH traded up $2.15 during midday trading on Friday, reaching $506.37. The company’s stock had a trading volume of 2,809,368 shares, compared to its average volume of 657,251. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15. The firm has a market capitalization of $65.09 billion, a P/E ratio of 23.86, a PEG ratio of 2.01 and a beta of 1.46. The firm has a 50 day moving average of $531.05 and a 200-day moving average of $515.17. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the company earned $5.93 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.84 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.29%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s payout ratio is 30.73%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Barclays decreased their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Argus upped their price target on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $569.06.

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.