Strive Asset Management LLC Invests $15.16 Million in Parker-Hannifin Corporation $PH

Strive Asset Management LLC bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,000 shares of the industrial products company’s stock, valued at approximately $15,163,000. Parker-Hannifin accounts for about 0.5% of Strive Asset Management LLC’s portfolio, making the stock its 18th biggest holding.

A number of other hedge funds have also recently bought and sold shares of PH. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at about $29,000. Valley Wealth Managers Inc. bought a new position in Parker-Hannifin during the third quarter valued at about $36,000. State of Wyoming acquired a new position in Parker-Hannifin in the 2nd quarter valued at approximately $38,000. Sagard Holdings Management Inc. bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $46,000. Finally, Financial Consulate Inc. acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $47,000. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. iA Financial set a $1,032.00 target price on Parker-Hannifin in a research note on Thursday, January 29th. Citigroup boosted their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, BNP Paribas Exane initiated coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target for the company. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,551 shares of company stock worth $12,117,502 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,010.77 on Tuesday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The company has a 50 day moving average of $949.77 and a 200-day moving average of $847.04. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market cap of $127.58 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 3.25 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the company earned $6.53 EPS. Parker-Hannifin’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Parker-Hannifin Company Profile

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.