ProShare Advisors LLC Has $18.22 Million Stake in Parker-Hannifin Corporation $PH

ProShare Advisors LLC decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 2.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 24,035 shares of the industrial products company’s stock after selling 586 shares during the quarter. ProShare Advisors LLC’s holdings in Parker-Hannifin were worth $18,222,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 0.9% in the second quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock valued at $7,770,646,000 after buying an additional 101,476 shares in the last quarter. Procyon Advisors LLC grew its holdings in Parker-Hannifin by 158,565.9% during the 3rd 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 during the last quarter. Invesco Ltd. increased its position in Parker-Hannifin by 1.8% in the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock valued at $1,638,556,000 after acquiring an additional 41,221 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Parker-Hannifin by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after acquiring an additional 92,913 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Parker-Hannifin by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock worth $1,449,496,000 after purchasing an additional 14,534 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,825 shares of company stock valued at $5,391,341 in the last quarter. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on PH shares. Morgan Stanley reissued a “positive” rating on shares of Parker-Hannifin in a report on Wednesday, January 14th. JPMorgan Chase & Co. increased their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Finally, Argus reiterated a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research report on Monday, November 10th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Stock Up 1.1%

NYSE:PH opened at $989.98 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $992.08. The stock’s fifty day simple moving average is $913.47 and its 200-day simple moving average is $819.76. The firm has a market capitalization of $124.96 billion, a P/E ratio of 36.10, a P/E/G ratio of 3.15 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the company posted $6.53 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be given a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio 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.