Park National Corp OH Makes New $578,000 Investment in Parker-Hannifin Corporation $PH

Park National Corp OH acquired a new position in Parker-Hannifin Corporation (NYSE:PH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 658 shares of the industrial products company’s stock, valued at approximately $578,000.

Other institutional investors also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin in the 3rd quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin during the third quarter valued at about $29,000. Ameriflex Group Inc. boosted its position in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares during the period. Morse Asset Management Inc grew its stake in shares of Parker-Hannifin by 164.7% during the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after buying an additional 28 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new position in shares of Parker-Hannifin during the third quarter valued at about $36,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Barclays raised their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Finally, Citigroup lifted their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was 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 directly owned 1,000 shares in the company, valued at $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 0.8%

PH stock opened at $893.04 on Friday. The stock has a market capitalization of $112.72 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.90 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The business has a fifty day moving average price of $957.97 and a 200-day moving average price of $862.79.

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 the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same quarter in the previous year, the firm earned $6.53 EPS. Parker-Hannifin’s revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s dividend 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.